ISLAMABAD: Pakistan Minister for Finance and Revenue Muhammad Aurangzeb on Thursday reaffirmed the government’s commitment to implementing broad-based reforms in taxation, energy, and state-owned enterprises (SOEs).
The minister made these remarks during a meeting with U.S. Ambassador Donald Blome, where they discussed mutual interests and bilateral cooperation, as reported in a news release.
Aurangzeb emphasized the government’s goal to raise the tax-to-GDP ratio to 13.5% by addressing leakages and including untaxed sectors. He noted that under the dynamic leadership of Prime Minister Shehbaz Sharif, a comprehensive transformation plan for the Federal Board of Revenue (FBR) has been approved, with experts now involved in the Board of PRAL, the IT arm of FBR.
Describing macroeconomic reforms as a “work in progress,” Aurangzeb highlighted significant challenges, including climate change and child stunting, which threaten to exacerbate inequalities and hinder economic growth and stability in Pakistan in the medium to long term. He stressed the need for climate resilience and malnutrition prevention, seeking technical and financial support from development partners to achieve holistic development goals.
Ambassador Blome commended Pakistan’s efforts to improve macroeconomic stability and praised the government’s bold reforms, particularly in the taxation and energy sectors. He reaffirmed his commitment to enhancing bilateral cooperation on technical and development initiatives and promoting high-quality U.S. investment for Pakistan’s economic growth.
