Islamabad: Senator Muhammad Aurangzeb, Pakistan’s Minister for Finance, has reiterated the government’s commitment to fostering a supportive environment for businesses, emphasizing the importance of the private sector in driving economic growth. This assurance was given during a meeting with a high-level delegation from the Pakistan Business Council (PBC) in Islamabad on Monday.

According to a statement by Ministry of Information and Broadcasting, the PBC delegation presented ideas for a fiscal policy aimed at promoting investment, creating jobs, supporting exports, and generating resources for sustainable and equitable growth. The Finance Minister expressed the government’s determination to provide an equitable and efficient taxation system.

Senator Aurangzeb announced a significant policy shift, revealing that the government intends to relocate the tax policy unit from the Federal Board of Revenue (FBR) to the Ministry of Finance. This move aims to protect tax policy integrity from revenue collection pressures, reinforcing the government’s commitment to improving the tax-to-GDP ratio to 13.5 percent within the next three years.

The Finance Minister highlighted plans to broaden the tax base through technological advancements, data analytics, and streamlined tax processes. He also assured the PBC delegation that their proposals would be thoroughly considered, with FBR teams set to engage with the council in the coming days.

Both sides reiterated their commitment to collaborative efforts, aligning Pakistan’s fiscal policy and tax regime with the nation’s growth and development goals. The PBC delegation was led by Chairman Shabbir Diwan, along with Vice Chairperson Ms. Zeelaf Munir, CEO Ehsan Malik, and other officials.