ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said that a task force is working to reduce electricity rates, and electricity will become cheaper soon.
Addressing a ceremony in Islamabad, the Finance Minister said that an announcement regarding further reduction in the policy rate will also be made soon.
Muhammad Aurangzeb said that this year, the privatization of state-owned enterprises will move forward rapidly, and the Prime Minister himself is overseeing the process of reforms in the FBR.
The Federal Minister said that Pakistan’s achievements in the economic field are being appreciated at the global level, and a third global rating agency will also announce an improvement in Pakistan’s rating.
He said that Pakistan’s export opportunities have increased after tariff negotiations with the United States. We are moving in the right direction; we have to fix the taxation system.
He said that for the first time, agricultural income has also been made a part of the tax system, tax relief has been given to salaried workers according to the financial space available, and we have no choice but to expand the tax net.
Better Environment for the Business Community
He said that the goal of the agreements with the IMF is economic development. We are issuing Panda Bonds at the end of this year, and we are also making agreements with China.
Two days ago, the confidence of the business community was increasing in a Gallup survey; there is hope for further improvement in the coming days.
Muhammad Aurangzeb said that our effort is to encourage businesspeople as much as possible. The private sector has to lead the economy of this country; our job is to provide a better environment to the business community.
We are in touch with all the chambers of the country under the leadership of the Prime Minister.
The Finance Minister said that SIFC is working on the process of taking everyone into confidence with an open heart.
We have to make Pakistan a prosperous country; may Allah grant us the ability to serve the country with unity and consensus.
He said that I congratulate everyone on Independence Day, our recognition is the result of the sacrifices of millions of people, the improvement in the economy in various sectors is before you, and I hope that the economy will improve further this year.
He said that we have paid a trillion in debt service last year, we are putting our house in order, the stock exchange has grown by 60 percent, the good thing in the stock exchange is that new investors have increased.
Muhammad Aurangzeb said that the federal government has started the process of right-sizing of 45 ministries and departments.
Privatization of government institutions will increase rapidly. The Prime Minister is personally overseeing the FBR Transformation meetings, will remain in touch with you throughout the year, not only in the formulation of the budget.
