Finance Minister Mohammad Aurangzeb announced that salaried citizens in Pakistan will soon be able to file taxes from home. The new system eliminates the need for lawyers and aims to simplify tax procedures. He emphasized the government’s focus on reducing human involvement and using technology for a transparent tax system. This step is part of broader efforts to make tax collection more efficient and sustainable.
Aurangzeb also highlighted ongoing reforms to improve government-owned enterprises. He confirmed that 24 loss-making entities have been transferred to the Privatization Commission for privatization. Among them, Pakistan International Airlines (PIA) will undergo another round of privatization. The government is hopeful that opening European routes will boost the airline’s performance. Discussions regarding the Roosevelt Hotel will also take place in the future.
The Minister assured that Pakistan’s economy is on the right path. Foreign exchange reserves are improving, and the interest rate has decreased from 22% to half. These changes are expected to benefit industrialists and businesses across the country. Aurangzeb stressed the importance of moving from economic stability to sustainable growth. His statements indicate confidence in the country’s future economic trajectory.
In addition, Aurangzeb shared positive updates about investor confidence. New investors are entering the stock market, and the business environment is improving. Economic activity during Eid-ul-Fitr saw a notable increase, with purchases reaching 872 billion rupees. This figure is higher than last year’s 820 billion rupees, reflecting growth in consumer spending.