Finance Minister Muhammad Aurangzeb reassured that tax collection efforts will not involve any form of harassment, even as the government ramps up efforts to prevent tax evasion. Speaking to Pakistani media in Washington D.C., Aurangzeb outlined Pakistan’s economic roadmap and ongoing discussions with international financial institutions.
He stated the government’s goal to raise the tax-to-GDP ratio from 9% to 13%, implementing stricter measures that restrict non-filers from purchasing vehicles and properties. He also emphasized that legal frameworks are being developed to address non-filers, with the long-term goal of eliminating the category altogether.
Aurangzeb shared positive economic indicators, including reductions in Pakistan’s inflation rate and policy rate. He described constructive talks with the International Monetary Fund (IMF), World Bank representatives, and Saudi Arabia’s Finance Minister. He also noted growing interest from the American business community in investing in Pakistan.
Expressing optimism about Pakistan’s economic trajectory, Aurangzeb highlighted favorable assessments from financial rating agencies. He clarified that the World Bank will be providing grants, not loans, and emphasized the positive nature of ongoing IMF negotiations. The Finance Minister expressed hope that the current IMF program will be Pakistan’s last, noting that while difficult decisions lie ahead, the government is committed to achieving macroeconomic stability.
