Finance Minister Muhammad Aurangzeb has said that the Federal Board of Revenue (FBR) is minimising human intervention by incorporating modern technology.

He stressed that FBR’s primary focus should be on tax collection.

Speaking at a Chamber of Commerce event in Peshawar, the minister highlighted that Pakistan’s foreign exchange reserves are increasing, and the benefits of economic stability are becoming evident.

He stated that transparency is being introduced in the tax authority, and the policy rate has been reduced.

Also, read this

Pakistan considers establishing National Crypto Council

Finance minister pledges relief for salaried class in budget, vows to reduce tax burden

Govt withdraws key powers from FBR in compliance with IMF demands

Aurangzeb emphasised that fundamental reforms are being implemented to ensure sustainable economic stability.

He noted that tax policy authority has been shifted from FBR to the Finance Division.

Reiterating his stance, he said the private sector must take the lead in driving the country’s economy.

The finance minister further stated that export-led economic growth remains a top priority.

He pointed out that the interest rate has been lowered from 23 per cent to 11 per cent and reaffirmed the government’s commitment to bringing it into single digits.

He added that the government is working on right-sizing expenditures and is seeking input from traders for the upcoming budget.