Pakistan achieves 25.6% increase in tax revenues

December 03, 2024 (MLN): Federal Minister for Finance and Revenue, Muhammad Aurangzeb on Monday, outlined a 25.6% (YOY) increase in tax revenues for the first quarter of FY 2025 during a meeting with Ms. Melinda Bohannaon, Director General for Humanitarian and Development.

During the meeting held at the UK’s Foreign, Commonwealth & Development Office (FCDO), the Federal Minister briefed the delegation on the government’s stabilization and structural reform program.

He outlined key initiatives, including the privatization agenda, rightsizing of the federal government, pension reforms, and reforms in state-owned enterprises (SOEs). 

Ms. Bohannaon appreciated the government’s comprehensive reforms program and assured the full support to FCDO. 

The Federal Minister further shared details about the upcoming 10-year Country Partnership Framework with the World Bank (WB).

He further noted that Pakistan will be the first country to enter such a framework. 

He emphasized that the framework will address existential challenges, including population growth, child stunting and climate change.

This framework will underscore the government’s commitment to sustainable development, said Muhammad Aurangzeb.

While discussing both the Minister and Ms. Bohannaon agreed on the importance of adopting a responsive and proactive approach to reforms. 

The minister also emphasized the need to stay the course to ensure that the reform initiatives achieve lasting impact.

This initiative will contribute to Pakistan’s long-term economic and social development, he further added.

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