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Articles for tag: Aurangzeb, collective effort, describes, Development, Economic, economic development, economic policy, economic stability, economy of Pakistan, FBR, FinMin, GDP, macroeconomic stability, Minister of Finance, Muhammad Aurangzeb, Pakistan, Pakistans, Path, rating agencies, remittances, sustainable, Tax revenue, tax to GDP ratio

September 3, 2024

News Desk

Finmin Aurangzeb describes Pakistan’s path to sustainable economic development

Pakistan’s Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment to steer the economy towards stability and sustainable growth. Speaking at a recent media briefing, Aurangzeb referred to the country’s ongoing economic challenges and the efforts being made to address them. He stressed that despite the difficulties, significant progress has been made, particularly in terms of remittances and credit assessments. Aurangzeb noted that remittances remained stable, reflecting the confidence of overseas Pakistanis in the country’s economic management. He further said that two prominent international rating agencies have maintained Pakistan’s credit ratings, which he interpreted as a positive sign that the country’s

September 2, 2024

News Desk

Domestic economic plan paradox

Islamabad: In a paradoxical move to address the persistent economic challenges plaguing the country, Prime Minister Shehbaz Sharif commissioned the development of a “domestic plan” to British economist Stephen Durkon. The Dercon plan, as reported in the press, appears to propose key structural reforms to achieve high economic growth. Let’s look at his finances. First, economic liberalization, where the government should incentivize private investment and remove trade barriers, thereby allowing free trade. The Dercon plan targets exports of $60 billion from Pakistan over the next five years. Although this sounds like an ambitious number, there is a dire need for

April 7, 2024

News Desk

Unilateral tax reforms are proving ineffective

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh said that FPCCI fully supports efforts to increase the tax to GDP ratio, which can be achieved through broadening the tax base and simplifying the tax system. than to further squeeze the already taxed. “The only realistic approach that can help achieve a tax-to-GDP (gross domestic product) ratio of 15% over the next five years is to add 1.5 to 2 million new taxpayers to the tax net,” he stressed. Sheikh was of the view that tax and Federal Board of Revenue (FBR) reforms should not

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