More than the IMF, our goal is to improve the economy, Finance Minister
Transparency in the tax system is the first priority of the government, they want to increase the share of taxes in the national income to 10%
The goal of our government is to improve the economy more than the IMF, Prime Minister Shahbaz Sharif has a clear vision for the improvement of the economy.
He gave strict instructions to maintain economic discipline, with no interruption in the final tranche of the current loan program from the IMF
They want to take the longest period program from the IMF, if there is continuity in the IMF program, there will be economic discipline, Mohammad Aurangzeb
Finance Minister’s visit to FBR headquarters, target of tax collections and future collections and reforms in FBR were also discussed.
FBR officials briefed Federal Finance Minister on digitization process, Muhammad Aurangzeb instructed FBR to speed up work on digitization.
ISLAMABAD ( Web News )
Federal Finance Minister Muhammad Aurangzeb has said that our goal more than IMF is the improvement of the economy, transparency in the tax system is the first priority of the government and we want to increase the share of taxes in the national income to 10 percent. Talking to the media in Islamabad, the finance minister said that he wants to take a big and long-term program from the IMF. Pakistan will try to take a big program according to its quota. If you want to take the longest-term program, there will be continuity in the IMF program, so there will be economic discipline. Mohammad Aurangzeb said that the goal of our government is the improvement of the economy more than the IMF. Prime Minister Shehbaz Sharif has a clear vision for the improvement of the economy. He said that there is no obstacle in the last tranche of the current loan program from the IMF, the IMF has to give 1.1 billion dollars in the last tranche of the current loan program. The Federal Finance Minister said that they are preparing the initial outline of the new loan program from the IMF, economic stability is the common goal of the IMF and the government of Pakistan. Mohammad Aurangzeb said that the caretaker government worked carefully for the improvement of the economy, Fawad Hasan Fawad handled the privatization issues with great interest and hard work, they want to collect the tax revenue digitally. He said that transparency in the tax system is one of the top priorities of the government, they want to increase the share of taxes in the national income to 10 percent. He said that environment funding can also be discussed with the loan program from the IMF. For the improvement of the environment, the IMF has been lending more than the quota to some countries. Later, Finance Minister Muhammad Aurangzeb visited the FBR headquarters where he was briefed on tax collections. Muhammad Aurangzeb discussed the target of tax collections and future collections and also discussed about reforms in FBR. The FBR officials briefed the Federal Finance Minister on the process of digitization while Mohammad Aurangzeb directed the FBR to speed up the work on digitization and also asked to bring complete transparency in the tax collection system.
In the meeting, Finance Minister Muhammad Aurangzeb stressed the urgent need for digitizing the FBR to enhance transparency and efficiency in tax collection. These initiatives would focus on enhancing tax collection through improved FBR governance, comprehensive documentation of the economy, and full-scale digitization. The government is considering strategies to broaden the tax base by incorporating wholesale/retail, real estate, and agriculture sectors into the tax framework
Finance Minister Muhammad Aurangzeb stated that digitization is a means to an end and implementing digital solutions are pivotal to modernizing our tax administration. He said that by leveraging technology and enhancing transparency, we can build a more equitable tax system that fosters economic growth and benefits all citizens.
The meeting concluded with a firm commitment from both sides to work towards promoting the welfare of the Pakistani people. The Minister praised the dedication of the FBR team and pledged the government’s full support in implementing transformative measures.
The Finance Minister’s visit to the FBR Headquarters underscores the government’s dedication to strengthen fiscal governance and promoting economic prosperity in Pakistan.