Aurangzeb hopes Pakistan to get status of $3trillion economy in 2047
Business
Rules out mini-budget
ISLAMABAD (Web Desk) - Federal Minister for Finance and Revenue Muhammad Aurangzeb on Sunday hoped that by 2047, the size of the country’s economy will be $ 3 trillion, which is currently standing at $300 billion.
Under the leadership of Prime Minister, Muhammad Shahbaz Sharif, the government has demonstrated economic discipline and introduced economic reforms, and now the country’s economy has stabilised, the finance minister said in a televised message.
The minister said that there is a need for a Charter of Economy as well as a Charter of Environment in the country and improving the environment and population control are major challenges for the country at this time.
The minister said the government is committed to building on the hard-earned macro-stability to further strengthen economy of the country.
Meanwhile, the finance minister has firmly ruled out the possibility of a mini-budget in the near future, following constructive discussions this week with the International Monetary Fund (IMF).
In a television interview, Aurangzeb emphasised the government’s focus on meeting the ambitious Rs12.97 trillion tax target, underlining efforts to improve tax enforcement and administration.
He also confirmed that the cabinet had approved the National Fiscal Pact, adding that no changes would be made to the National Finance Commission (NFC) framework.
While the finance minister commended the fiscal efforts of Sindh and Khyber Pakhtunkhwa, he also acknowledged setbacks in the privatisation of Pakistan International Airlines (PIA).
