Finance minister calls for public trust restoration

"If we implement institutional reforms, this will be the last IMF programme," Finance Minister Aurangzeb claims

ISLAMABAD:

Federal Finance Minister Muhammad Aurangzeb has said that unless public trust is restored, the country cannot move forward, and the private sector must step up to lead the country.

While addressing the Senate, Finance Minister Muhammad Aurangzeb stated that the Pakistani Rupee has stabilised in the current fiscal year, and inflation has dropped to single digits.

He mentioned that exports have improved significantly in July and August. "If we implement institutional reforms, this will be the last IMF programme," he claimed.

During the Senate session, Senator Shibli Faraz raised a question, stating that the country is lagging behind by 98 billion rupees in tax collection. He asked how the government plans to cover this shortfall and what the economic plan is.

In response, the finance minister said that credit to the private sector has increased by Rs 0.5 trillion, and the government needs to show fiscal discipline. He reiterated that the prime minister has made it clear that the government's job is not to run businesses, but to let the private sector do so.

Aurangzeb added that the country cannot progress without restoring trust. "The PM has started making changes, and we are accountable to 240 million people. The finance minister also agreed with the proposal to digitise the Federal Board of Revenue (FBR). He emphasised that progress cannot be made unless public trust in the tax authority is restored. "It is impossible to develop without paying taxes. The country cannot run on charity; taxes must be paid."