Federal Finance Minister Muhammad Aurangzeb has said that the legislation related to making the assets of government employees public has been completed and this step is not under any additional global condition but is part of the practical agenda of transparency.
Addressing a function in Lahore, he said that the budget for the next financial year will be prepared on policy grounds and will not depend only on the FBR. The Finance Minister urged all sectors to focus on increasing exports, the government is fully ready to provide facilities.
Muhammad Aurangzeb announced that PASSCO is being closed because the institution has long been a center of mismanagement and corruption. He said that due to non-sale of wheat in FATA and PATA, it was being brought back to other markets, which shows the failure of the system.
The Finance Minister said that there is a continuous demand from the formal sector that effective action should be taken against the non-compliant sector. He clarified that providing employment is not the direct job of the government, but this responsibility has to be fulfilled by the private sector.
He said that the government is prioritizing providing a conducive environment for start-ups and young entrepreneurs. The promotion of digital economy and e-commerce has increased business activities, while automation in the tax system has improved transparency and trust.
The Finance Minister further said that the efforts of the Prime Minister’s economic team have significantly reduced corruption. In the meeting held last week on the NFC Award, discussions were held with the finance ministers of all four provinces in a positive and constructive atmosphere.
He confirmed that the auction of the national airline will take place on December 23, which is a key step in the process of reforming government institutions.
According to economists, asset transparency and institutional reforms can restore investor confidence, but consistent and effective implementation of policies is essential.
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