Federal Finance Minister Muhammad Aurangzeb promised on Wednesday to close tax logging, increase the investor’s confidence and maintain financial reforms as he approached Rawalpindi Chamber of Commerce and the Industry Day.
Aurangzeb said international institutions had welcomed Pakistan’s reform measures, while the recent Gallup surveys showed increasing financial confidence.
He noted a 60% growth in the Exchange, an increase in new investors and 250,000 new business registrations.
Aurangzeb suggested that the most important political rate could be further reduced this year with reference to falls on average and core inflation.
Earlier in May, Governor SBP announced at a press conference with other MPC members (MPC) members of a 100 BPS that highlighted an improved inflation prospects and signs of moderate economic recovery.
The central bank, which beat the market expectations for a 0-50BPS reduction, reduced the policy rate by 100 bps to 11% at a meeting, “wrote Toppline Service Papers.” We expect interest rates to come to 10% by December 2025. ”
Read: Political Rate cut to 11%
The minister said the government had completed financial growth -focused agreements with the IMF, reached a favorable customs agreement with the United States and worked with key agreements with China.
Panda bonds would be issued at the end of the year, and a benchmark for sugar bonds, Finans Czar.
Aurangzeb highlighted further ongoing rights of 45 ministries, accelerated privatization of state companies and reductions in electricity stars, with additional expected energy costs.
He assured that taxation reforms would not burden that grade and that the Prime Minister personally monitored FBR’s transformation. Monthly meetings with chambers are held to address business concerns.
Read more: PM approves the creation of digital ecosystem on FBR
Aurangzeb, who calls for unity, said the private sector should lead economic growth, where the government’s role is to provide a favorable business climate.
