Finance Minister briefs Canadian envoy on tax net expansion plans

May 23, 2024 (MLN): Finance Minister Muhammad Aurangzeb informed the Canadian High Commissioner to Pakistan, Leslie Scanlon, that the government has engaged consultants to bring untaxed segments into the tax net and to implement end-to-end digitalization and administrative reforms.

The Finance Minister welcomed the Canadian High Commissioner and informed her about the successful completion of the nine-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF).

He further stated that the government is currently in talks with the IMF mission for further engagement.

The Minister said that the consultants have been engaged in this regard.

The Federal Minister, while mentioning the privatization initiatives affirmed the Prime Minister's commitment to privatize State-Owned Enterprises (SOEs).

He added that a positive response has been received from local and foreign investors for the privatization of Pakistan International Airlines (PIA).

The Minister also explained the complex energy equation, informing that DISCO boards have been reconstituted with the subject matter experts from the private sector, to increase their efficiency.

Furthermore, the Finance Minister emphasized the role of the Special Investment Facilitation Council (SIFC) as a pragmatic single-window platform, designed to streamline investment processes and attract foreign investments. 

The High Commissioner Scanlon recognized the efforts of the government to improve the country’s economy.

While expressing hope for the economic growth and stability in the country, she assured that the Canadian government will continue to support the socio-economic development of Pakistan. 

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