The Federal Minister for Finance Muhammad Aurangzeb has stated that reforms are being introduced in various sectors, including the tax system and energy. He added that the FBR does not need to impose any additional taxes.
In Islamabad, Finance Minister Muhammad Aurangzeb held a press conference along with FBR Chairman Rashid Mahmood Langrial, Energy Minister Awais Leghari, and IT Minister Shaza Fatima.
The Finance Minister said that economic stability has been achieved in the country. “We have done significant work toward macroeconomic stability. Our goal is to ensure sustainable economic stability, and reforms are essential to achieve that,” he stated.
He added that the government is pursuing an agenda of fundamental economic reforms. “Global rating agencies have acknowledged Pakistan’s economic stability, and the staff-level agreement with the IMF also reaffirms this stability,” he said.
Muhammad Aurangzeb further stated that the country’s economic direction is correct. “The reduction in the policy rate has had a positive impact on the economy. Reforms are being implemented in sectors including taxation and energy, while pension reforms and right-sizing are also part of the core reform agenda,” he added.
The FBR Chairman said that this year, income tax return filings have increased by 18 percent, with the number of taxpayers rising to 5.9 million. “There is no need for the FBR to impose more taxes,” he stated.
He added that the rate of individual tax return filings has also increased, and effective measures have led to higher tax collections. “The FBR has the full cooperation of all institutions,” he said.
