FinMin says country's economy on right track due to govt’s policies

Karachi: Finance Minister Muhammad Aurangzeb says the economy is heading in the right direction due to prudent economic policies introduced by the government.

Chairing a meeting of the Overseas Investors Chamber of Commerce and Industry in Karachi today, he urged the private sector to come forward and play its role in economic growth.

Mohammad Aurangzeb said inflation is continuously decreasing and steps are being taken to pass the benefits of improvement in the economy to the people at a grassroots level. He also urged the media to introduce Pakistani products to the world.

Earlier, the finance minister held a meeting with Sindh Governor Kamran Khan Tessori.

Speaking on the occasion, Mohammad Aurangzeb said IT and agriculture have important roles in the economy. He lauded the initiatives of Sindh Governor to train youth with IT skills.

Meanwhile, addressing a news conference in Karachi today, The Minister said the country has an import-led economy, which is creating a balance of payment problem.  He said every single entity of the country should contribute to exports. He said markets are available for ‘Made in Pakistan’ products.

Replying to a question, Muhammad Aurangzeb said talks are underway with the Sindh Government regarding Agriculture tax. He said the Punjab government had already done work on it and Khyber-Pakhtunkhwa and Balochistan are working on it.

The Minister said efforts are being made to bring real estate, agriculture, wholesalers and retailers under tax net. He said leakages in sales tax and income tax are being stopped through the digitalization process.

Replying to a question on inflation, he said that a Standard Item Agenda had been introduced by the Economic Coordination Committee to control prices of pulses, petroleum, and transportation to provide relief to the people.