ByFinance Minister Mohammad Aurangzeb has announced a simplification of the tax return process for salaried individuals, aiming to ease compliance and enhance efficiency. Speaking at the “Dialogue on the Economy” event in Islamabad, he noted that similar measures have already been successfully implemented in other countries, underscoring the importance of modernizing Pakistan’s tax system.
The minister also highlighted the recent increase in remittances and IT exports, considering them positive indicators for the national economy. He reiterated the government’s commitment to fostering economic growth and streamlining financial procedures to facilitate taxpayers. As part of these efforts, consultations with various chambers of commerce regarding the upcoming budget are set to take place next month.
Aurangzeb’s latest remarks follow his statement at the World Economic Forum in Davos, where he expressed optimism about Pakistan’s economic trajectory. He pointed to a significant decrease in the interest rate and potential improvements in the country’s GDP. However, he also acknowledged major challenges, including population growth and climate change, which require long-term strategic planning.
The finance minister further emphasized ongoing collaborations with the World Bank to implement various economic programs, reinforcing the government’s commitment to sustainable development. These initiatives align with broader efforts to stabilize the economy and create a more business-friendly environment.
