Islamabad, Finance Minister Muhammad Aurangzeb, during the Gong ceremony at the Pakistan Stock Exchange in Karachi, emphasized the need for a comprehensive tax system reform to enhance Pakistan’s economic landscape. The Minister outlined the government’s strategies for structural reforms and tax system modernization, highlighting the integration of technology and transparency in tax collection.

According to Ministry of Information and Broadcasting, Minister Aurangzeb discussed the collaboration with the Law Ministry and the Federal Board of Revenue (FBR) to address tax revenue leakages and expand the tax base. He outlined the government’s short and medium-term strategies for implementing structural reforms, including the adoption of a track and trace system and digitization within the FBR to boost tax collection efficiency and ensure transparency.

The Finance Minister acknowledged the pivotal role of the private sector and the capital market in driving economic growth, indicating the government’s intent to foster a regulatory environment conducive to economic development. This includes focusing on the capital market to improve efficiency, transparency, and investor protection.

Aurangzeb also highlighted the significance of Chinese investments and urged for enhanced cooperation between the Pakistan Stock Exchange and Chinese stock exchanges. In his address to the media, the Minister mentioned a twelve billion rupees Ramadan relief package provided by the government and noted the improvement in the country’s current account, which registered a surplus in the previous month.