Finance minister promises tax system reforms to enhance economic efficiency

Finance Minister Muhammad Aurangzeb has stated that despite numerous challenges, the government has successfully prevented the country from default and is steering the economy toward recovery and stability, reported.

Speaking to traders and industrialists in Peshawar on Wednesday, Aurangzeb stated that practical steps have been taken to simplify and improve the tax system. He further announced that the Tax Policy Office would be operational within the next three to four days.

The minister also stressed the need for the private sector to take a leadership role in the country’s economic stability and growth. He mentioned that consultations with the business community and relevant stakeholders are ongoing ahead of the upcoming budget, ensuring that relief is provided to traders and the public at all levels.

He acknowledged that the business community and the people of Khyber-Pakhtunkhwa have faced significant challenges over the past decade, and the federal government fully understands their struggles.

Aurangzeb assured that, despite difficulties, the government has managed to prevent the country from defaulting and is working toward economic recovery and stability. He noted that efforts would continue to balance government spending and revenue within the framework of the International Monetary Fund.

He added that the government is committed to implementing practical measures for sustainable and comprehensive economic development and prosperity.

Aurangzeb further urged commercial banks to support all sectors, reiterating the government’s commitment to long-term economic development and stability. He pointed out that current economic indicators demonstrate that the government’s reforms and actions are rapidly moving the economy toward recovery and growth.