FinMin Aurangzeb promises tax relief for salaried class
Business
Says Pakistan has met all IMF targets
ISLAMABAD (Dunya News) – Federal Finance Minister Muhammad Aurangzeb said on Monday that economic stability had been achieved in Pakistan, and the world was surprised by the pace of Pakistan's economic improvement.
He said Pakistan was moving towards macroeconomic stability and efforts were being made to reduce the burden on the salaried class.
Speaking at a seminar in Islamabad, Aurangzeb said that the debt repayment burden is expected to decrease, and reforms are being introduced in the tax system. He noted that the significant reduction in the policy rate has had a positive impact on the economy, and that reduced human intervention in the FBR will lead to greater transparency.
He added that PIA is undergoing a relaunch process, and the tax submission process for salaried individuals will be made easier, adding that economy is heading towards a technological transformation.
The minister also stated that “we will assist the Pakistan Armed Forces as much as possible; this is not just a military need but a national necessity.” He revealed that there was an attempt to derail Pakistan’s IMF loan program at the board level—efforts were made to prevent the meeting from taking place so Pakistan’s agenda wouldn’t be discussed—but Pakistan's case was ultimately discussed on merit.
The FM shared that Pakistan has met all IMF targets, and failure to do so would have caused difficulties. He emphasised that Pakistan will continue to implement the IMF program. Constructive discussions have taken place with the IMF, and the mission has returned after its visit. Pakistan has full support from the IMF, and virtual talks will continue this week.
Aurangzeb clarified that no decision has yet been made regarding civil and military salaries. He stated that the world now acknowledges Pakistan’s economic performance and that the government is seeking a sustainable solution for economic development. Transformation is essential for growth, and the government is committed to long-term reforms.
He added that reforms are being introduced not only in the tax system but also in the energy and other key sectors. Economic stability has been achieved in Pakistan, and the world is recognising the country's economic progress.
At the end of the event, he noted that meetings with investors in Washington and London received a positive response regarding Pakistan's economy.
