Islamabad, Pakistan – During the “Dialogue on Economy” event, Finance Minister Muhammad Aurangzeb revealed the government’s initiative to simplify the tax return process for salaried individuals. This move is in line with international best practices, aimed at easing the filing process and improving taxpayer compliance in Pakistan.

Positive Economic Steps for Business Confidence

Aurangzeb also highlighted the recent policy rate reduction as a positive step toward revitalizing the business environment in Pakistan. He emphasized that the reduction would help instill greater confidence in the private sector, promoting investment and growth.

Increase in Remittances and IT Exports

The Finance Minister expressed optimism over the rise in remittances and the significant growth in IT exports, which he views as strong indicators of a recovering and resilient economy. He highlighted the potential of these sectors to drive economic expansion and bring much-needed foreign exchange to the country.

Government’s Focus on Consultations for the Upcoming Budget

Looking ahead, the government is set to engage with chambers of commerce next month to gather input for the next financial year’s budget. This consultation is part of the government’s efforts to ensure that economic policies align with the needs of businesses and the broader economy.

Fiscal Responsibility and International Obligations

Minister Aurangzeb reassured that the government would remain committed to fulfilling Pakistan’s international financial obligations, including those with the International Monetary Fund (IMF). He noted that this would help Pakistan maintain fiscal discipline while also pursuing economic growth and financial stability.

Preparing for a Robust Fiscal Year

Government departments have been directed to prepare expenditure plans for the upcoming fiscal year, underscoring the government’s intent to maintain prudent fiscal management and bolster the country’s economic prospects.

A Vision for Economic Growth

These announcements demonstrate the government’s commitment to economic growth, fiscal responsibility, and facilitating a more efficient tax system, all of which are designed to support Pakistan’s long-term economic stability.