Islamabad: Federal Minister for Finance Muhammad Aurangzeb has said that it is expected that the policy rate will further go down while the country’s economy stabilized in last one and half years.
Addressing a ceremony in Islamabad on Wednesday , the Finance Minister said that tariffs reforms started for the first time in the last 78 years.
Muhammad Aurangzeb said that Pakistan Stock Exchange reached at the highest level which is reflective of the investors confidence on the country’s economy.
He said that we will have to increase a tax net as we can’t put further burden on the salaried class.For the purpose Prime Minister is overseeing the reforms in the FBR besides that digitization process in the FBR is also underway.
The government is following on an agenda of basic reforms adding we are bringing more measures for the betterment of the economy, he said.
He added that an uptick of 41 percent in the country’s debt is a major increase while the government has adopted the rightsizing policy for decreasing its expenditures.
He apprised that a work on the rightsizing of the 400 government institutions are in progress adding that a task forces is working on decreasing the electricity rates further.
He lauded the efforts of the power minister Owais Leghari saying “Owais Leghari and his team have done prominent work in the improvement of the energy sector.”
We brought down the policy rate while further reduction is also expected adding all the economic indicators are showing positive trends.
He said that International financial institutions have lauded our economic reforms.
