Aurangzeb vows to continue reforms on taxation, energy

ISLAMABAD: The Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has reiterated the government’s determination to implement extensive reforms in taxation, energy, and state-owned enterprises. He made these remarks during a meeting with US Ambassador Donald Blome, who visited him in Islamabad.ECC allows additional export of 0.500 Million MT of surplus sugar

Senator Aurangzeb stated that the government aims to increase the country’s tax-to-GDP ratio to 13.5 percent by addressing leakages and incorporating untaxed sectors into the tax system. He mentioned that under Prime Minister Shehbaz Sharif, a comprehensive reform plan for the Federal Board of Revenue (FBR) has been approved.

The Minister described the macroeconomic reforms as “a work in progress” and highlighted the pressing challenges of climate change and child malnutrition, which could exacerbate inequalities and hinder economic growth and stability in Pakistan over the medium to long term.

He emphasized Pakistan’s commitment to enhancing climate resilience through adaptation strategies and tackling malnutrition with the support of development partners to achieve comprehensive development objectives.

US Ambassador Donald Blome commended Pakistan’s initiatives to improve macroeconomic stability and praised the government for undertaking difficult and courageous reforms, particularly in the taxation and energy sectors. He reaffirmed his dedication to strengthening bilateral cooperation in technical and development efforts and promoting high-quality US investments for Pakistan’s economic advancement.