Govt aims to boost economy, interest rate cuts expected: Finance Minister
Business
Aurangzeb highlighted reducing the tax burden on manufacturers, who currently pay the largest share
ISLAMABAD (Dunya News) – Finance Minister Muhammad Aurangzeb has stated that the government is focused on economic growth, with further interest rates cuts likely this year.
Speaking to Bloomberg at the Boao Forum in China, he revealed plans to widen the tax net by including sector like real estate, retail, and agriculture in the upcoming budget.
He highlighted ongoing effects to lower electricity tariffs under the Prime Minister’s leadership, which will support the manufacturing sector and boost exports.
Aurangzeb highlighted reducing the tax burden on manufacturers, who currently pay the largest share of taxes.
He expressed satisfaction with inflation trends on manufacturers, who currently pay the largest satisfaction with inflation trends, assuring that price levels are being closely monitored.
The minister also announced plans to issue Pakistan’s first Chines Yuan bond, issue Pakistan’s first Chinese Yuan bond, valued between $200-250 million, aimed at diversifying funding sources.
Proceeds from the bond will be allocated to climate-related projects, demonstrating a commitment to sustainable development.
