Finance Minister Aurangzeb Calls for Provincial Action to Tackle Inflation and Meet IMF Commitments

Federal Finance Minister Muhammad Aurangzeb has emphasized the urgent need for provinces to actively contribute to reducing inflation in Pakistan. Speaking at the Islamabad Literature Festival, he stated that while agreements are often made with international organizations, adherence to these commitments remains inconsistent. Aurangzeb announced that the government will present a detailed account to the IMF next week, focusing on boosting revenue and controlling expenditures through the National Finance Agreement.

During his address, the minister highlighted that the government’s role is to provide policies, while the private sector should drive business initiatives. He stressed the importance of taxes over donations for the country’s sustenance, hinting that the Federal Board of Revenue (FBR) will undergo comprehensive digital reforms to ease the tax filing process. Additionally, Aurangzeb underscored Pakistan’s need for foreign investment and announced plans for privatization of state-owned enterprises, including PIA, and the issuance of bonds in the international market. He revealed that efforts are underway to launch Panda Bonds in China, which will help increase foreign investment in export sectors.