Pre-Budget Conference FY 2024-25: Message from Muhammad Aurangzeb Federal Minister for Finance and Revenue, Pakistan

TEXT: Our government is committed to putting Pakistan on the path of sustainable economic growth and development. Under the leadership of Prime Minister Mian Muhammad Shehbaz Sharif, we are committed to achieving significant progress in stabilizing our economy and implementing reforms to promote fiscal discipline and transparency.

Our upcoming budget will build on this progress, with a focus on:

• Boosting economic growth and job creation

• Enhancing tax compliance and broadening the tax base

• Investing in critical infrastructure and social sectors like education and healthcare

• Supporting vulnerable segments of our society, including the poor and marginalized

• Promoting private sector investment and entrepreneurship

Curtailing the current expenditure would be one of the most effective steps towards this objective. Broadening of the tax base in a meaningful manner without further burdening the existing tax payers is a delicate balance that we must strike.

The imperative of introducing reforms in the energy sector cannot be ignored, side-stepped or forgotten. The Government's policy team, in my view, have the skills, experience and ability to come up with the required proposals to help the government prepare a balanced, employment generating, and growth -oriented budget.

The ongoing talks between Pakistan and the International Monetary Fund (IMF) for a new programme have given a lot of prominence to the upcoming budget. I feel that the IMF Programme is actually the "Pakistan Programme" supported by the IMF to introduce critical reforms that are long overdue.

The Government of Pakistan is very clear that we will provide both the policy framework and policy continuity; in return, we expect the private sector to deliver on productivity and export-led growth.

We are committed to delivering a budget that is inclusive, equitable, and growth-oriented. We will continue to work tirelessly to ensure that Pakistan's economy serves the needs of all our citizens.

Copyright Business Recorder, 2024