Islamabad, In a pre-budget seminar held in Lahore, Finance Minister Muhammad Aurangzeb emphasized the government’s commitment to revitalizing the economy through significant engagement with the business community and a push towards privatization and public-private partnerships.
According to Ministry of Information and Broadcasting, Minister Aurangzeb highlighted several positive indicators reflecting the success of the government’s economic policies, including a substantial increase in foreign exchange reserves and the restoration of foreign investors’ confidence. He attributed these achievements to prudent fiscal management and the anticipation of a larger, more comprehensive program with the International Monetary Fund (IMF) aimed at ensuring macroeconomic stability and advancing structural reforms.
The Finance Minister also noted the commencement of talks with the IMF mission team, slated to begin tomorrow, as a critical step towards these goals. He mentioned the appreciation of the rupee and a decline in the inflation rate as signs of emerging economic stability.
Aurangzeb called on the business community to contribute to the strengthening of the economy by broadening the tax base. He also detailed the government’s strategy to limit its involvement in business to strategically essential State-Owned Enterprises (SOEs), with a focus on privatizing loss-making entities to enhance economic efficiency.