ISLAMABAD: On Thursday, Finance Minister Muhammad Aurangzeb reiterated the government’s unwavering dedication to assisting small and medium-sized businesses (SMEs).
The minister recognized that tough choices must be made in order to stabilize the economy, taking into account how they would affect both citizens and businesses.
A news release claims that the minister made this statement while visiting the Sialkot Chamber of Commerce and Industry (SCCI) to engage with the city’s business community. Jam Kamal Khan, the minister of commerce, and Khawaja Muhammad Asif, the minister of defense, were with him.
The finance minister underlined how crucial it is to raise Pakistan’s tax-to-GDP ratio from its present 10.3% to an ideal 13–14% that is in line with acceptable standards.
He also emphasized the government’s will to implement structural changes in order to steer the nation toward sustainable economic growth and prevent a balance of payments disaster. He claimed that in order to achieve this, the administration had to make difficult choices in order to pull the nation out of its predicament.
He believed that all economic sectors, including the general public, would profit from a strong and stable economy.
He promised the business community that the FBR would become a business-friendly organization, but he also stated that no sector would be permitted to benefit from any tax practice exemptions. He listened patiently to the SCCI president’s arguments regarding the Final Tax Regime and promised that all of the suggestions would be thoroughly examined and that choices would be made with the interests of SMEs and exports in mind.
