During a pre-budget conference organized by the Federation of Pakistan Chamber of Commerce in Lahore, Federal Finance Minister Muhammad Aurangzeb spoke about the importance of privatizing institutions to improve economic stability in the country. He stated that their agenda involves public-private partnerships and not just foreign investors. The minister emphasized that the government needs to focus on tax-to-GDP, energy, and privatization to achieve its goals.
He also emphasized the need to expand the tax net and bring businessmen into it. Muhammad Aurangzeb further revealed that an IMF team has already arrived in Pakistan and the negotiations will begin soon.
The government has secured a 9-month standby agreement with the IMF, which he credited to the caretaker government for showing responsibility. The minister noted that the country is currently experiencing macroeconomic stability as evidenced by the stable value of the rupee and decreasing inflation. The pre-budget conference was attended by distinguished guests, including Provincial Finance Minister Mujtaba Shujaur Rehman, President Federation of Pakistan, and Chamber of Commerce and Industry Atif Akram Sheikh.
