Finance Minister Muhammad Aurangzeb said that Pakistan’s economic reforms are driving the country toward long-term stability and sustainable growth, marking a major turnaround in macroeconomic indicators.
Speaking at a joint press conference at the Federal Board of Revenue (FBR) headquarters, Aurangzeb said the government is implementing key structural reforms in taxation, energy, and pension systems to ensure economic progress. He added that three global credit rating agencies have already confirmed that Pakistan’s economic direction is on the right track.
“The government’s focus is on transforming short-term stability into sustainable economic growth,” Aurangzeb said. He noted that a staff-level agreement with the IMF has been finalized, reflecting international confidence in Pakistan’s reform agenda.
FBR Chairman Rashid Mahmood Langrial said the number of individual tax filers has increased by 18% this year, rising from Rs. 4.9 million to 5.9 million. He said tax reforms take time to show results, but the progress indicates improved compliance. The country’s income tax gap currently stands at Rs. 1.7 trillion, he added.
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Energy Minister Awais Leghari said the government reduced electricity prices by 10.5% in the last 18 months and cut circular debt by Rs. 700 billion in a year. “We are modernizing the energy sector to ensure affordable electricity for citizens,” he said.
Meanwhile, the Advisor on Privatization said that the government will soon speed up privatization. He added that the First Women Bank was sold for Rs. 5 billion, emphasizing that transparency and efficiency remain top priorities in the process.
