Finance Minister Muhammad Aurangzeb delivered a resolute message on Monday, affirming that there would be no further tax amnesty schemes and emphasizing the imperative for all citizens to fulfill their tax obligations. Speaking at an event in Dubai, Aurangzeb stressed that economic reforms are essential for the nation’s prosperity, transcending the tenure of any particular government.
He projected a positive outlook, anticipating that foreign exchange reserves would surpass $9 billion by June, while also disclosing plans for the privatization of Pakistan International Airlines by July. In addition, discussions were actively underway with Turkey and Europe regarding the potential outsourcing of operations at Islamabad International Airport, with similar plans envisioned for Karachi and Lahore airports in the future.
Aurangzeb underscored the current self-sufficiency in funding, noting that there is presently no requirement for international financial assistance. Efforts are instead focused on reducing the current account deficit, with a strategic approach towards achieving financial stability.
Highlighting international cooperation, Aurangzeb revealed that the World Bank has expressed a decade-long commitment to supporting Pakistan’s ambitious ‘Digital Pakistan’ initiative, underscoring the importance of technological advancement in the country’s development trajectory.
In a significant development, Aurangzeb disclosed that Pakistan had initiated discussions with the International Monetary Fund for a new multi-billion dollar loan agreement, aimed at bolstering the nation’s economic reform agenda. With plans for at least a three-year program, Pakistan seeks to address key economic challenges and ensure sustainable growth.
Aurangzeb’s remarks reflect a proactive stance towards economic revitalization, signaling a concerted effort to chart a path towards prosperity and financial stability for Pakistan.
