WEBDESK: Finance Minister Muhammad Aurangzeb has reiterated that Pakistan’s economy is heading towards improvement. While speaking to an audience in Faisalabad, he said that the reduction in policy rates has benefited businesses, and that the efforts for economic stability are ongoing.
“Lower policy rates will further boost business activity, and we are introducing reforms within the tax,” Aurangzeb said.
Referring to perhaps Pakistan’s reliance on aid, he said that charity could run schools and hospitals, but not a government: “Under the leadership of the Prime Minister, the country is progressing.”
He pointed out that the inflation rate has dropped to a single digit, and that the public sector is looking for collaboration with the private sector which is crucial in the current times.
Aurangzeb vows support for Pakistan’s towel industry, eyes export growth
“Providing facilities to investors is our priority, and expanding the tax net has reduced the burden on the national treasury. This will also amplify the confidence of foreign companies in Pakistan,” shared Aurangzeb. He added that Pakistan’s stock market has also reached new heights.
On February 20, Auranzeb conveyed to the standing committee on climate change that Asian Development Bank (ADB) had announced USD500 million in climate financing for Pakistan. In the coming days, the International Monetary Fund (IMF) will give Pakistan another USD one billion for climate finance.