ISLAMABAD – Federal Finance Minister Muhammad Aurangzeb has said that the International Monetary Fund (IMF) has praised Pakistan’s economic stability, and the government utilized its own resources for flood relief efforts.
Speaking at a discussion on reforms and future challenges at the Atlantic Council, Aurangzeb said Pakistan has made significant progress in achieving economic stability, and the IMF has acknowledged the country’s performance.
He added that global rating agencies have shown confidence, the country achieved a current account surplus after a year, and the government used domestic resources for flood assistance.
Aurangzeb highlighted that population growth and climate change remain major challenges, while the economic growth rate is expected to exceed 3% this year. He said tax reforms are a top government priority, with agricultural income being taxed for the first time.
He stated that the retail and real estate sectors have been brought into the tax net, and digital monitoring and AI are being implemented within the Federal Board of Revenue (FBR).
The finance minister said the tax-to-GDP target is set at 11%, the federal and provincial governments have agreed on a National Fiscal Pact, and a new NFC Award is expected in November.
Aurangzeb also said Pakistan is pursuing an export-led growth model, has decided to reduce duties on raw materials, and emphasized that the private sector will play a central role in economic development, reaffirming the government’s commitment to a market-based exchange rate.
