KAMALIA: Pakistani citizens were reassured on Tuesday by Finance Minister Muhammad Aurangzeb that the government will reduce spending and was considering its expenditures.
“Government spending is our main concern. Within 1.5 months, everyone would be aware of the austerity measures, the finance minister stated while speaking to media representatives in Kamalia.
The finance minister went on to say that the government ought to abolish the ministries overseeing the devolved subjects.
Aurangzeb emphasized that while charitable donations may fund schools and hospitals, taxes were still necessary to maintain a nation. As such, the government would need to gradually reduce tax amnesty.
\
In addition, he stated that further sectors were being included in the government’s tax net and that merchants will be subject to it starting in July. “About 31-32,000 retailers were registered with the government,” he stated.
Aurangzeb accused the Federal Board of Revenue (FBR) of violating existing tax collection regulations despite the FBR’s improper collection practices. He claimed that tax digitization will reduce corruption.
The finance czar emphasized the need for privatizing state institutions that are losing money and stated that the outsourcing of the Karachi airport would be finished in July. Prime Minister Shehbaz Sharif had also given the go-ahead to turn over the Lahore airport to the private sector.
