Economy is stable and developing: Finance Minister Aurangzeb
Business
“We're moving forward; forex reserves have increased. There must be continuity in policies," he adds
LAHORE (Dunya News) – Federal Finance Minister Muhammad Aurangzeb said on Sunday that the country's economy is stable and moving in the right direction.
Talking to the media here, he said that the stock market has been showing positive trend, all economic indicators have been an indication of development. The currency is stable.
“We are moving forward; foreign exchange reserves have increased. There must be continuity in policies for economic growth,” he stated.
He said that gambling (speculative trading in stock market) would not be tolerated.
The minister stated that work on next budget has started. The government would consult the business community before finalising budget, he added.
He said reforms in the FBR (Federal Board of Revenue) was underway. The government was working on overhauling the tax authority so that people could be persuaded and encouraged to pay taxes.
He acknowledged that the manufacturing industry and the salaried class have been burdened with taxes. Every sector will have to play its role in the development of economy, Aurangzeb continued.
The finance minister said he had recently visited Saudi Arabia, Dubai, the United States and other countries. He did not see any disapproval (for the incumbent government) in the overseas Pakistanis.
He expressed the hope that remittances from overseas Pakistanis would be around $35 billion this year. Investment in the Roshan Digital Account is also growing, he said.
He urged the private sector to come forward and play its role in the development of the country as the government was doing its job. It would support the private sector through policy framework and policy continuity, he added.
Replying to a question about Pakistan-India cricket match, Aurangzeb said he fully support the Green Shirts and pray for its success.
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