Aurangzeb Reaffirms Commitment to Sustainable Development

Islamabad: Finance Minister Muhammad Aurangzeb has reiterated commitment to sustainable development through export and productivity-led growth in the country. Addressing a news conference in Islamabad on Saturday, he expressed satisfaction over performance of auto-sector and its share in overall exports.

According to Radio Pakistan, Muhammad Aurangzeb said the government is undertaking structural reforms to end reliance on IMF. On the taxation side, the Finance Minister said the tax to GDP ratio is to touch ten point six percent by the end of this financial year, which is an increase of one point eight percent in one year. He said the tax to GDP ratio will be taken to thirteen point five percent.

He stated that the revenue collection of FBR would also increase by thirty-two point five percent this year. The Minister highlighted that one hundred and five billion rupees were collected from new tax filers. He added that the process of privatization will be accelerated.

On the external front, the Finance Minister expressed confidence the remittances will touch record thirty-six billion dollars this financial year. Responding to the changing US trade policy, Muhammad Aurangzeb said Pakistan will send a high-level delegation to Washington to convey its commitment to a long-term strategic partnership.

He mentioned that the government is constructively engaged and is working on a package and when finalized, it can go forward for discussion with the US administration. He emphasized that Pakistan wants to ensure a win-win situation in medium to long terms for both the countries.