Finance Minister Muhammad Aurangzeb stresses for close collaboration b/w Govt & private sector to achieve sustainable economic growth

FAISALABAD, Feb 22 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has stressed for close collaboration between Government and private sector to achieve sustainable economic growth.

Addressing a function in Faisalabad Chamber of Commerce and Industry on Saturday, Muhammad Aurangzeb highlighted the remarkable performance of stock market, which has reached record high.

The Minister said public trust in taxation system is being restored through reforms in Federal Board of Revenue (FBR). He said the Prime Minister Shehbaz Sharif is personally overseeing the implementation of these reforms.

Muhammad Aurangzeb also stressed the need to broaden the tax net to ease the burden on the national exchequer.

Finance Minister said that the government’s move to expand the tax base reduced the burden on the national treasury.

The finance czar affirmed that Pakistan’s economy is moving towards improvement, driven by key reforms. Muhammad Aurangzeb emphasised that a lower policy rate has also benefited business owners and ongoing economic stability measures were yielding positive results. He also reiterated that inflation has decreased to single digits, providing relief to the public.

The finance minister highlighted that recent tax reforms had significantly increased revenue collection. Addressing concerns about seeking assistance from the International Monetary Fund (IMF), he noted that sustainable governance cannot rely solely on charity, stressing the importance of a strong economic framework.

Muhammad Aurangzeb further underscored the need for public-private sector collaboration to drive economic growth, stating that working together is crucial for long-term progress.