2 weeks Ago By Web Desk
Federal Finance Minister Muhammad Aurangzeb assured on Sunday that taxpayers will not face harassment, emphasizing a supportive approach to tax compliance. During a press conference in Washington, Aurangzeb clarified that individuals classified as non-filers will be restricted from purchasing cars and properties. He stated, "We need a legal cover for non-filers, and we are eliminating the term 'non-filer' itself.
" Aurangzeb highlighted successful meetings with key stakeholders in the United States, including the Saudi finance minister, representatives from the International Monetary Fund (IMF), and the World Bank. He expressed optimism about Pakistan's economic outlook, predicting a decline in inflation. "All rating agencies are indicating positive signals for Pakistan's economy, but more stringent decisions are required for economic improvement," he stated.
The finance minister also announced that the current IMF program would be the last, signaling a move towards economic independence. He confirmed that Pakistan’s national reserves have increased beyond $11 billion and reaffirmed plans to raise the Tax-to-GDP ratio from 9% to 13%. Aurangzeb reiterated that Pakistan has reduced its dependence on foreign loans and stated that all banks are willing to collaborate with the country for economic progress.
.
