Lahore: Federal Finance Minister Muhammad Aurangzeb has said that the main objective of the government’s economic policy is to ensure transparency, private sector leadership and institutional reforms so that the economy can be taken forward on a sustainable basis.
Speaking in Lahore, he said that the law to bring the assets of government employees to the public has been implemented, which is a reform step in line with international standards and is not the result of any external pressure.
The Finance Minister said that next year’s budget will not be limited to just tax collection but policy-making will be given central status. He said that increasing exports is inevitable and the government will facilitate every sector.
Muhammad Aurangzeb said that PASSCO is being abolished because it has damaged market order. He said that it is necessary to encourage positive steps so that the country and the economy move in the right direction.
He stressed that the private sector will lead the country’s economy, as the government is not in a position to generate large-scale employment. Action against the non-compliant sector was considered important to give the economy a documented shape.
The Finance Minister said that the government is committed to promoting young entrepreneurs, start-ups and digital businesses. Tax system reforms and automated systems have restored the confidence of taxpayers.
He said that the recent meeting on NFC awards saw coordination between the federation and the provinces, which improved the confidence of the business and investment community. According to him, inflation is currently under control.
Regarding the national airline, he confirmed that its auction will be held on December 23, which is an important step towards reforms of loss-making government institutions.
Economic analysts say privatization, tax reform, and transparency can ease fiscal pressures, but policy consistency and investor-friendly implementation will be crucial.
