Finance Minister Muhammad Aurangzeb said on Sunday that everybody will have to pay taxes for boosting the country’s revenue.
Expressing his thoughts, Aurangzeb expressed about the country’s economy, saying, “The country’s economy is on the verge of the prosperity. The inflation and interest rates have witnessed a decline as well.”
“The International Monetary Fund (IMF) was amazed that how the Pakistan’s economy has been fixed in the last 14 months,” Aurangzeb said.
Speaking about Prime Minister Shehbaz Sharif, Aurangzeb said: “The prime minister will soon present the economic roadmap before the masses. We [the government] will not take any step that will go against the national interests.”
“We will have to reach the charter of environment like the charter of democracy. There is a dire need to join hands to confront the negative consequences faced by the climate,” he stated.
Aurangzeb maintained: “We have reviewed 11 ministers for rightsizing.”
– FinMin announces major tax and economic reforms, restrictions on non-filers –
Last month, Aurangzeb, speaking at a press conference in Washington, outlined significant economic reforms and tax policies aimed at increasing transparency and sustainability in Pakistan's economy.
Aurangzeb emphasised that no one will be harassed for taxes, with data-driven assessments now central to tax collection efforts. He also announced new restrictions for non-filers, stating they will be unable to open bank accounts or purchase property, pending legislative approval.
Aurangzeb highlighted upcoming reforms in the Federal Board of Revenue (FBR), aimed at boosting transparency and fostering sustainable development. "We are taking difficult decisions to improve the economy. Our focus includes reducing imports, increasing exports in sectors like IT and agriculture, and transitioning government-owned enterprises to private management where feasible," he said.
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