Finance Minister: Law passed to reveal government employees’ assets

Legislation to make government employees’ assets publicly available has been passed, according to Finance Minister Muhammad Aurangzeb on Saturday. He clarified that this is a pragmatic reform rather than an extra requirement imposed by the International Monetary Fund (IMF).

Speaking at a ceremony in Lahore, the finance minister stated that the government had taken significant legal action in response to the IMF’s advice to make government officials’ assets public.

The minister emphasized that all sectors must contribute to exports and economic growth and said that legislators, not the Federal Board of Revenue (FBR), would draft the federal budget for the following year.

Declaring PASSCO to be a center of corruption, Muhammad Aurangzeb declared that the government was in the process of closing it. He claimed that wheat intended for FATA and PATA was being redirected and sold elsewhere, and he underlined the importance of recognizing constructive improvements in order to maintain economic growth.

The finance minister emphasized that the formal sector has pushed the government to take action against non-compliant economic sectors and mentioned that he has already addressed the IMF report in the Senate. He emphasized that the private sector is in charge of creating jobs, and the government’s mission is to support growth.

He noted that with e-commerce and digital economy efforts growing economic activity, it is still important to create a favorable atmosphere for startups and young entrepreneurs. Trust among taxpayers has increased as a result of initiatives to increase transparency, automate processes, and broaden the tax base.

Muhammad Aurangzeb added that investor confidence is gradually returning as a result of steady economic reforms and that inflation is still under control. He also stated that the national airline’s auction is set for December 23.