Aurangzeb initiates inclusive budget talks with traders

LAHORE: Federal Finance Minister Muhammad Aurangzeb announced on Sunday, that economic stability has been attained and the nation’s economy is now poised for growth.

aWhile addressing the media in Lahore, Aurangzeb revealed that the process of preparing the upcoming budget has begun, incorporating discussions with the business community to ensure a well-rounded and inclusive budgetary approach.

He expressed his optimism regarding the economic outlook, citing improvements in critical financial indicators. “The stock market is performing well, currency stability has been achieved, and there has been an increase in foreign exchange reserves,” he stated.

The finance minister also noted that reforms within the Federal Board of Revenue (FBR) are underway, focusing on creating a more efficient tax system that is acceptable to the public. “The manufacturing sector and salaried individuals have faced significant tax burdens, and it is essential that all sectors contribute equitably to the economy,” he emphasized.

Aurangzeb reaffirmed that sustained economic growth remains a top priority for the government, which is dedicated to ensuring policy continuity to bolster the private sector. “The genuine progress will originate from the private sector, and we need to establish a supportive policy environment for them,” he added.

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Addressing concerns regarding the sentiments of overseas Pakistanis, Aurangzeb stated that during his recent travels to Saudi Arabia, Dubai, and Washington, he detected no signs of discontent among expatriates. “We are thankful for their contributions, and we anticipate that remittances will reach $35 billion this year,” he remarked.

He also highlighted the consistent growth of the Roshan Digital Account, an initiative designed to attract foreign investments from Pakistanis living abroad.