Tax base will be broadened, deepened to curtail tax burden on salaried class: FM
ISLAMABAD
Finance Minister (FM) Muhammad Aurangzeb has said government is pursuing the agenda of basic reforms for durable economic stability in the country while national economy is treading on trajectory of improvement.
“ We have to head towards durable development based on partnership. We have to change DNA of our economy at present, he said while addressing Pakistan Banking Summit-2025 in Karachi Monday
He held controlling current account deficit, increase in remittances, reduction in inflation and policy rate are clear indicators that the national economy has moved in the right direction.
He underscored need for instructional and structural reforms to improve the governance and control misuse of public finances.
He also emphasized on digitization of institutions to overcome corruption and increase revenue saying digitization of FBR has yielded positive results.
He went on to say the banking sector has an important role in the national economy and it has performed even better than oil and gas sectors with regards to tax payment.
He called for promoting export-led growth and urged that every sector has to play its role.
He held out assurance the business community will be incentivized and urged the banking sector should facilitate SMEs focusing on financing agriculture, dairy, livestock and other such sectors.
Later talking to the journalists he said the matter is not of profit or loss. What can be done in private sector, it should be done in private sector.
We should learn from every one but we should do what is right for our country.
It is correct to work on reforms and agenda of privatization in the institutions owned by government, he underlined.
We are working on reforms in FBR and are focusing on digitalization and artificial intelligence.
Tax base will be broadened and deepened to curtail tax burden on salaried class. We will ask other sectors to contribute to it. This way we will be able to provide relief to those which are overburdened.
