Pakistan heading in right economic direction, says FinMin Aurangzeb
Business
The minister stressed on structural reforms for sustainable growth
ISLAMABAD (Dunya News) – Finance Minister Muhammad Aurangzeb said on Thursday the country heading in the right economic direction with macroeconomic stability achieved.
He made the remarks while addressing an event organized by Pakistan Retail Business Council in federal capital.
The minister stressed on structural reforms to avoid boom and bust cycles and achieve sustainable and inclusive growth. He highlighted that reforms were being made in various areas such as energy, taxation, public finance and others.
Talking about reforms in taxation, the minister said a real transformation was underway with a focus on utilising latest technology to bring transparency and plug loopholes. He emphasised on a need to restore public trust in the tax authority.
Calling massive tax burden on the salaried class an unsustainable solution, he said other sectors such as retail, wholesale, real estate and agriculture, should come forward and pay taxes fairly.
Aurangzeb stated that efforts are being made to reduce government expenditures, adding that provincial governments are working on agricultural taxes.
He said the reduction in policy rate would benefit investors and the business community. The country cannot afford unnecessary privileges, he said.
