AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: Finance Minister Muhammad Aurangzeb has emphasized structural reforms to avoid boom and bust cycles and move towards sustainable and inclusive growth. Addressing an event organized by Pakistan Retail Business Council, he highlighted ongoing reforms in taxation, energy, State-Owned Enterprises (SOEs), and public finance, expressing satisfaction about the country’s macroeconomic stability.
According to Radio Pakistan, the Finance Minister revealed a real transformation in taxation, focusing on technology to enhance transparency and prevent leakages. He underscored the importance of restoring trust in the tax authority and noted the unsustainable tax burden on the salaried class. Aurangzeb urged other sectors, including retail, wholesale, real estate, and agriculture, to contribute fairly to taxes.
On energy reforms, Aurangzeb stated that tough measures are being enacted to ensure competitive energy. Regarding SOEs, he confirmed that the reform process has started, with rightsizing to be completed by June. He also assured that the privatization process will proceed as planned.