Kamaalia:
Finance Minister Muhammad Aurangzeb has emphasized that the country is facing numerous challenges, but stressed that there are no quick fixes, urging everyone to unite for the sake of the nation.
Speaking to the media in Kamaalia, Aurangzeb stated that the government has not relied on external support but has worked towards development on its own. He added that they would not simply sit in Islamabad making decisions; instead, they would go directly to the people to gather suggestions for the upcoming budget. He criticized the practice of people flocking to Islamabad during budget season, calling it an incorrect approach.
The Finance Minister highlighted the importance of practical actions over empty promises. He stated that as interest rates decrease, it will benefit businesses and the economy, signaling positive growth for 2025. He emphasized that the interest rate will continue to drop, eventually reaching single-digit levels, paving the way for further economic improvement.
Aurangzeb acknowledged the country’s many issues but insisted that there is no “magic wand” to resolve them overnight. He said that the government is actively seeking input from all stakeholders for sustainable economic reforms. He called for unity, urging political consensus on crucial matters, including the Charter of Economy.
The minister also revealed that he has been visiting various cities for the past few weeks to directly engage with traders and gather their suggestions. He stressed that the country cannot be sustained through charity and that the focus is on addressing the challenges faced by loss-making state-owned enterprises. These entities should either be reformed or privatized, he added.
Aurangzeb further assured that the government has comprehensive data on the economy and that all assets will be brought into the tax system. Efforts to combat tax evasion are underway, and the Finance Minister made it clear that everyone, including those who criticize the tax system as corrupt, will need to contribute.
He also pointed out that agriculture and information technology (IT) sectors hold significant potential for growth. The government is taking revolutionary steps to improve agriculture and plans to reduce electricity prices. Additionally, the private sector will play a key role in the nation’s economic progress.
