Islamabad: Finance Minister Muhammad Aurangzeb has emphasized structural reforms to avoid boom and bust cycles and move towards sustainable and inclusive growth. Addressing an event organized by Pakistan Retail Business Council in Islamabad, he highlighted the ongoing reforms in taxation, energy, State-Owned Enterprises (SOEs), and public finance, expressing satisfaction with the country’s macroeconomic stability.

According to Radio Pakistan, the Finance Minister pointed out a real transformation in taxation, emphasizing the use of the latest technology to enhance transparency and prevent leakages. He stressed the need to restore trust in the tax authority and address the disproportionate tax burden on the salaried class by urging other sectors, including retail, wholesale, real estate, and agriculture, to contribute their fair share.

On the energy front, Muhammad Aurangzeb noted that tough measures are being implemented to ensure competitive energy prices. Regarding SOEs, he mentioned that reforms are underway, with the rightsizing process expected to be completed by June this year, and affirmed that the privatization process will continue.