Kamalia: Federal Finance Minister Muhammad Aurangzeb stated that for the country to progress, everything must be handed over to the private sector.
He emphasized that while schools and hospitals can run on charity, countries run on taxes. A tax will be imposed on retailers starting from July.
Speaking to the media in Kamalia, Muhammad Aurangzeb said that tax exemptions need to be gradually reduced and the tax net expanded.
Other sectors are being brought into the tax net, and a tax will be imposed on retailers from July.
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Although laws exist, the authorities are not collecting taxes properly. Digitization of taxes will reduce corruption, and GDP relies on taxes, which sustain the entire system. The national economy is moving towards improvement.
According to sources, Muhammad Aurangzeb said there are discussions about why government expenditures are not being reduced. This is correct, and there are two aspects to government expenditures that need to be considered.
Firstly, the federal government should abolish ministries that are no longer relevant. We are reviewing government expenditures and will reduce them.
Within a month and a half, you will see measures being taken. The outsourcing of Karachi Airport will happen in July.
The Prime Minister has also suggested that Lahore Airport be handed over to the private sector.
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For the country to move forward, everything must be handed over to the private sector.
The Finance Minister further stated that to provide relief to the country, deficits and government burdens need to be reduced.
The agriculture and IT sectors are not related to the IMF or anything else. Development in agriculture and IT will improve the national economy.
Providing interest-free loans to farmers will revolutionize agriculture. This time, we did not ask China for money but for technology.
