Finance Minister Aurangzeb said the government is expanding the tax base. He announced that the Federal Board of Revenue (FBR) will only collect taxes. The Tax Policy Office will prepare and present the next budget.
Speaking at the Business Summit Seminar, he said the office will deliver a stable budget. The government has set aside Rs 4.3 trillion for development projects.
Aurangzeb said Pakistan will not seek immediate foreign aid for flood damages. The government will first try to handle flood recovery with local resources. He said growth depends on exports and public tax payments.
He highlighted the impact of climate change on the economy. He recalled the 2022 floods and recent disasters that hurt Pakistan’s financial stability. He said the country must control its rising population. He also stressed the need to localize industries. He said Pakistan will add Rs 38 billion in remittances and $1.38 billion from Eurobonds to the economy.
The minister said the private sector is key for stability and for Pakistan’s role in the global economy. He added that tax reforms will continue. He called for better alignment of local and international investment policies.
Aurangzeb said the government is improving the privatization process to encourage investment. He reaffirmed the Rs 4.3 trillion development budget. He praised institutions that helped flood victims during recovery.
He said monitoring policies have improved the economy. He added that Energy Minister Awais Leghari is introducing reforms. The government is also working to solve problems in raw material exports.
