Increasing Taxpayers Important for Economy: Finance Minister

Finance Minister Senator Muhammad Aurangzeb on Thursday remarked Pakistan needs to bring more citizens into the tax net to backing economic expansion and strengthen the country's finances.

Key points

• Governor State Bank of Pakistan Jamil Ahmed, Advisor to the Finance Minister Khurram Schehzad and Pakistan's High Commissioner to the UK Tipu Usman were additionally in attendance.
• 500 Million Financing Accord with Saudi Pak Industrial & Agricultural Investment Business.
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• He created the remarks while addressing the Pakistan Investment Roundtable hosted by the Pakistan High Commission in London.
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He created the remarks while addressing the Pakistan Investment Roundtable hosted by the Pakistan High Commission in London. It was attended by leading investors and global financial management firms.

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Aurangzeb remarked fiscal consolidation was delivering results through a primary surplus, a lower fiscal deficit, climbed revenue collection and progress on institutional and fiscal reforms.

He remarked the administration had additionally undertaken reforms of state owned enterprises alongside privatization. Energy sector reforms, greater financial transparency and improvements in the ease of doing business would further backing the government's goal of macroeconomic stability, he went on.

In practice, the finance minister remarked expanding the tax base and improving tax enforcement were necessary for economic expansion. He remarked discretionary powers of tax authorities had been eliminated and that there was no preferential treatment in taxation. He additionally stated no extra taxes had been imposed on the salaried class.

Aurangzeb remarked Pakistan's economy had faced setbacks from major nationwide flooding last year and the recent war in the Middle East. It had pushed up oil costs globally.

He remarked Pakistan remained open for business and was seeing renewed interest from international investors. He continued that Pakistan had successfully completed all IMF reviews on schedule. It had been followed by three rating upgrades. Pakistan Army Signs Accord To Purchase Drones From US Firm.

During an interactive question-and-answer session, Aurangzeb discussed Pakistan's economy, the investment climate, partnerships with international organizations and potential investment opportunities throughout various sectors with representatives of financial institutions.

Governor State Bank of Pakistan Jamil Ahmed, Advisor to the Finance Minister Khurram Schehzad and Pakistan's High Commissioner to the UK Tipu Usman were additionally in attendance. Stay Connected with ProPakistani.

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For now, increasing Taxpayers Important for Economy: Finance Minister remains the part of the story worth watching, and further updates are likely as more details are confirmed.