Foreign exchange reserves will reach 9-10 billion dollars by June, Finance Minister
The stock market is also at an all-time high, the foreign exchange reserves have not increased through the market, date stocks, but through market operations.
The final tranche will be released by the International Monetary Fund later this week, with the share of taxes in the economy at 9 percent, the lowest in the region.
We will have to consult the provinces to bring people into the tax net, we will try to get their help in this regard.
Reforms are needed in the energy sector, serious efforts will have to be made to reduce losses, Muhammad Aurangzeb’s address at the event.
ISLAMABAD ( Web News )
Federal Finance Minister Muhammad Aurangzeb has said that the foreign exchange reserves will reach 9 to 10 billion dollars by June. Speaking at an event in Islamabad, he said that this weekend, the International Monetary Fund will The last installment will be released from the side, the stock market is also at the highest level in history, the foreign exchange reserves have increased, this market has not increased through debt stocks, but through market operations. He said that the IMF loan program If I am, there is no plan B, agriculture GDP is growing by 5% and we have also produced more crops. We want to stabilize the economy, tax share in the economy is 9%, he said. which is the lowest in the region, there is a need for reforms in the energy sector, serious efforts must be made to reduce energy losses. Called Lander of the Last Resort for a reason, this program helped create macroeconomic stability. Muhammad Aurangzeb said that we requested the fund to issue a long-term program because the first reason was that We want to maintain macroeconomic stability and the second is the implementation of the structural reform agenda, this country does not need a policy, we don’t know why or what, but we need to work on it, we need to be stable. The Federal Minister of Finance said that the government’s job is not to do business, therefore he asked all the ministries to take the government institutions towards privatization, there are two aspects of taxation, the first is policy and implementation gap and the second is tax net. Inclusion of non-tax payers or low tax payers, which is the implementation aspect is very important, we have to get the implementation components right. It must be implemented, someone said to me why not talk to the Chief Justice, I will do it when the matter is his but this is the executive’s matter, we have requested the tribunals to do so. Take a decision in the next 3-4 months and we will also replace the people in these tribunals. The federal minister said that we will have to consult the provinces to bring people into the tax net, we will seek their help in this regard. We will try to do, we want to speed up privatization, we are asked about the IMF, what are they going to do now, they are not going to do anything, this is Pakistan’s program, we will do anything. He said that we had very good discussions in Washington, the nature of the new program will be discussed when the mission comes to Pakistan, we hope that we will make an agreement at the end of June or July.