Federal Finance Minister Muhammad Aurangzeb has said that Pakistan has no choice without implementing economic reforms.
Talking to the Director of IMF in Washington, the Finance Minister said that tax defaulters will be brought into the tax net.
He said that pension liability is a big problem for Pakistan, the amount of federal government expenditure is also being reduced, they want to depend on investment instead of aid, and loss-making institutions will be privatized.
Addressing the G24 ministerial meeting in Washington, the finance minister said that the problem of the high debt burden on developing countries needs to be solved. Work together on climate change faced by developing countries including Pakistan.
On the occasion of attending the annual meetings of the IMF and the World Bank in Washington, the finance minister also met with the Saudi counterpart.
The meeting also agreed to increase bilateral trade, facilitate investment in key sectors, and increase cooperation in areas of mutual interest.
Finance Minister Muhammad Aurangzeb also met the delegation of Citibank. In the meeting, reforms in energy, pension,, and government right-sizing sectors were discussed.
It should be noted that the Pakistani delegation led by the finance minister is present in Washington, and access to international capital markets is included in the government’s agenda.
