Finance Minister Muhammad Aurangzeb has said that steps are being taken to improve the country’s economy.
Addressing a press conference in Islamabad, the Finance Minister said, “With reference to revenue and taxation, I want to say clearly that we believe in implementation and enforcement. It is now very important, now everyone has to pay taxes.” will
According to official news agency APP, the finance minister said that he did not want to take the country back to the situation it had reached before.
‘Be it salaried class or manufacturing sector, real estate or wholesalers, agriculture sector or trade, we all have to play a role for the improvement of the country’s economy. The finance minister said that this is not a request but this is the responsibility that we have to pay, we want all sectors to move forward with clarity.
He said that the need for climate emergency has arisen due to pollution, we presented our point of view in Baku as well. He said that if we do not take pollution and climate resilience together, then all these measures will be futile.
The finance minister said that the economy is stabilizing, foreign exchange reserves have continued to increase and inflation and policy rates have come down significantly. The government’s reform agenda was discussed in the bilateral meetings.
According to him, the IMF and other financial institutions have recognized the economic performance of Pakistan, their confidence in Pakistan is increasing, the tax net is being increased and everyone will have to work together for the betterment of the country. Challenges are being faced and measures are being taken to address them.
The finance minister said that macroeconomic stability is important because it provided the basis for economic initiatives and reforms which were much needed and the fruits of which have come and are coming.
Inflation rate has come down from 38% to 7%, the policy rate has come down from 22% to 15%, likewise the foreign exchange rates which were left at two weeks import cover have come down to two and a half months import cover and We are taking it on a three-month import cover.
The Finance Minister said that I want to share with you the messages we received from this platform and other stakeholders, first of all, he appreciated how a country brought these deficits to surplus in 14 months. And how were these goals achieved?
He said that international financial institutions have increased their confidence in Pakistan, all the stakeholders who met with them appreciated Pakistan’s economic performance, we informed them about all the economic agenda and they all said that this macro-economic stability will be furthered. Increasing is very important.
The finance minister said that the promises made were made in the interest of the country and are in front of everyone. He said that this is why I said six months ago and I am repeating it again today that this program is Pakistan’s program which is being supported and funded by the IMF. Not a secret, all this agenda was already known including energy reforms, taxation reforms, SOE reforms, privatization agenda and public finance.
