ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb said that the program with the IMF has been settled and the current program will be the last, the economy has to be documented to go to the Group of 20.
While giving a press conference in Islamabad, the Finance Minister said that increasing tax revenue is inevitable, microeconomic stability is not a destination but a way. Offers of T-bills and bonds for local loans have been rejected.
He said that the Pakistani economy is moving in the right direction and is on the way to improvement, however, the services of experts from abroad will be taken for the improvement of the country.
Mohammad Aurangzeb said that domestic foreign exchange reserves have increased and Pakistan’s foreign exchange reserves are at the highest level. Domestic exports and IT exports have increased significantly while investor confidence is a major success in terms of the strength of the economy.
He said that the policy rate has decreased by 4.5 percent, he is hopeful that the exchange rate and the policy rate will remain as per our expectations.
Mohammad Aurangzeb said that last year there were about 3 lakh new filers and so far this year 732 thousand new filers have come, the number of filers in the country has increased from 16 lakh to 32 lakh. Now non-filers will not be able to buy property and vehicles.
He said that the work on right-sizing in the ministries is going on and the decision to eliminate 6 ministries will be implemented while 2 ministries are being merged. One and a half lakh posts are being eliminated in various ministries.
Mohammad Aurangzeb said that inflation has come down and it is not a matter of air, as a result of government policies inflation has come down to single digit.
The finance minister said that he had asked the provincial chief ministers to take steps to reduce inflation, the prices of petroleum products in the country have decreased, so transport fares should also be reduced.
