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Pakistan’s Finance Minister Assures Relief for Salaried Class Amid Economic Challenges

ISLAMABAD: Finance Minister Muhammad Aurangzeb pledged relief for Pakistan’s salaried class, acknowledging their hardships during an interview. Aurangzeb empathized with the challenges faced by the salaried workers, promising government action at the earliest opportunity.

Speaking on efforts to strengthen Pakistan’s fiscal framework, Finance Minister Aurangzeb emphasized the government’s determination to bring more retailers into the tax net. He outlined stringent measures targeting non-compliant entities, aimed at encouraging tax compliance and bolstering revenue collection.

The minister also expressed optimism about achieving a staff-level agreement with the International Monetary Fund (IMF) within the ongoing month. Highlighting Pakistan’s economic vulnerabilities, Aurangzeb acknowledged the country’s limited foreign exchange reserves, necessitating periodic IMF engagements to stabilize the economy.

Aurangzeb affirmed the government’s commitment to maintaining currency stability, regardless of IMF support, while identifying Agriculture and IT sectors as pivotal for economic growth. He underscored their potential to drive Pakistan’s development agenda independently or with IMF assistance.

The minister’s comments come amid Pakistan’s efforts to navigate economic challenges, including recent GDP growth figures and ongoing fiscal adjustments outlined in the national budget. Aurangzeb’s assurance of relief for the salaried class reflects ongoing governmental efforts to mitigate economic hardships and promote financial stability across Pakistan.

In addition to addressing immediate economic concerns, Minister Aurangzeb discussed broader fiscal strategies outlined in Pakistan’s recent budget. He emphasized the government’s commitment to eliminating cash transactions, a move aimed at enhancing transparency and curbing tax evasion. This initiative reflects ongoing efforts to modernize financial practices and strengthen Pakistan’s fiscal framework to meet international standards.

As Pakistan continues to engage with global financial institutions and implement domestic reforms, Aurangzeb’s assurances signal a concerted effort to bolster economic resilience and promote inclusive development strategies. The forthcoming developments, including the anticipated IMF agreement and ongoing fiscal policies, are poised to shape Pakistan’s economic trajectory in the coming months.

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