On Wednesday, Federal Minister of Finance Muhammad Aurangzeb undertook on Wednesday to fill the tax gaps, strengthen the confidence of investors and maintain economic reforms, while he was addressed to the event of the independence of the Chamber of Commerce of Rawalpindi and Industry.
Aurangzeb said that international institutions had praised Pakistan reform measures, while recent Gallup surveys have shown increasing economic confidence.
He noted a growth of 60% of the scholarship, an increase in new investors and 250,000 new registrations for companies.
Aurangzeb suggested that the key policy rate could be reduced even more this year, citing falls in medium and central inflation.
Earlier in May, Governor SBP, at a press conference with other members of the Monetary Policy Committee (MPC), announced a reduction of 100 BPS, highlighting an improvement in inflation prospects and moderate economic recovery signs.
By beating market expectations with a drop from 0 to 50 bp.
Read: The policy rate has been reduced to 11%
The Minister said the government had finalized agreements focused on economic growth with the IMF, concluded a favorable tariff agreement with the United States and worked on key agreements with China.
Panda bonds would be issued by the end of the year and a reference for the Sukuk obligations had been set, the financial tsar.
Aurangzeb also underlined the rights in the process of 45 ministries, accelerated the privatization of state companies and reduction of electricity prices, with new improvements in the expected energy costs.
He assured that tax reforms could not hang the salaried class and that the Prime Minister personally supervised the transformation of FBR. Monthly meetings with Chambers would be held to respond to commercial problems.
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Appeat to unity, Aurangzeb said that the private sector must conduct economic growth, the role of the government being to provide a favorable commercial climate.
