Federal Minister for Finance Muhammad Aurangzeb has said that Pakistan has decided not to seek immediate foreign aid for flood damages and will try to manage recovery efforts with its own resources.<\/p>\n
Addressing the Pakistan Business Summit in Peshawar, the finance minister stated that the Federal Board of Revenue (FBR) will now focus only on tax collection, while next year\u2019s budget will be prepared by the Tax Policy Office. \u201cIt will be a stable budget,\u201d he said.<\/p>\n
Aurangzeb emphasized the role of the private sector in national development, adding that the government must provide a conducive environment for business. \u201cWe reduced the prices of regulatory materials so industries could function. If we want to take the private sector forward, we must address taxes and other issues to build people\u2019s confidence in the economy,\u201d he noted.<\/p>\n
He said Pakistan has prepared a revised preliminary estimate of flood damages on IMF directives but clarified, \u201cWe have decided that we will not seek immediate aid for floods. We will first try to manage matters in affected areas with our own strength.\u201d<\/p>\n
The finance minister underlined recent international engagements, mentioning visits to China, Saudi Arabia, and the United States. \u201cWe signed 24 agreements in China alone. In the US, agreements were made in various sectors. This is not aid but trade and investment, which is very important,\u201d he said.<\/p>\n
Aurangzeb also pointed to key challenges: \u201cWe must look at climate change and our growing population. The population is rising at a rate of 2.3 percent, and many of our children are facing malnutrition.\u201d<\/p>\n
Highlighting economic progress, he said, \u201cThe country has achieved stability. Last year, remittances stood at $3.5 billion, and we expect further growth this year. Privatization is being improved at the government level so that positive results of investment can be achieved.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Minister for Finance Muhammad Aurangzeb has said that Pakistan has decided not to seek immediate foreign aid for flood damages and will try to manage recovery efforts with its own resources. Addressing the Pakistan Business Summit in Peshawar, the finance minister stated that the Federal Board of Revenue (FBR) will now focus only on […]<\/p>\n","protected":false},"author":2,"featured_media":66900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,16],"tags":[],"ppma_author":[95],"class_list":{"0":"post-66899","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest","8":"category-pakistan"},"yoast_head":"\n