Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Thursday that the government aims to cut its expenditures in order to bring economic stability to the country, saying that an Inter-Ministerial Committee has been constituted in this regard.
The Inter-Ministerial Committee will present a report to the Prime Minister in the next two months on the dissolution of ministries. He said that the PM has constituted an Inter-Ministerial Committee under my chairmanship regarding cutting off government expenses while talking to a private news channel.
He said the committee’s aim is to devise a plan for dissolving the ministries. The Prime Minister had already announced the closure of the Pakistan Public Works Department (Pak-Pwd).“Prime Minister, without waiting for the report of the Inter-Ministerial Committee, had already announced to close Pak-Pwd as their salaries were not a problem, but corruption was found in PSDP ongoing and previous projects,” he added.
We could save Rs 650 billion if PIA were privatized 10 years ago and could have diverted these funds to other sectors, he said. He said that we have to take practical steps to boost the country’s economy towards stability and to increase the revenue target further, up to 30 percent.
The registration process for retailers has also started, and every segment should contribute their share to achieve this target, he said. Our main focus is to collect maximum tax from the property and real estate sectors, for which we would eliminate the loophole being faced regarding tax collection, he stressed.
He also added that we will work with our collision partner and take advantage of the Pakistan People’s Party’s (PPP) private-public partnership program they have opted for in Sindh province. The funds of the Benazir Income Support Program (BISP) had been increased by up to 27 percent, he said.
