Finance Minister Muhammad Aurangzeb on Monday expressed optimism that Pakistan will successfully meet its tax collection target for the fiscal year 2024-25. During a televised interview on Bloomberg’s program, The Asia Trade, Aurangzeb highlighted that Pakistan’s tax-to-GDP ratio had risen to 10.8% by December 2024. Aurangzeb emphasized that the country is on track to achieve its tax collection goals, stating that reaching the target is essential for Pakistan’s fiscal sustainability. He reaffirmed the government’s commitment to expanding and deepening the tax base to improve revenue collection and economic stability. In July 2024, Pakistan signed a 37-month, $7 billion Extended Fund Facility (EFF) with the International Monetary Fund (IMF) to promote economic stability and inclusive growth. In September, the IMF Executive Board approved the EFF, enabling Pakistan to receive the first tranche of Special Drawing Rights (SDR) worth $760 million, equivalent to $1.03 billion. Aurangzeb confirmed that the IMF mission for the first official review of the program is expected to arrive between mid to late February 2025. Discussing macroeconomic indicators, Aurangzeb stated that the government aims for a GDP growth rate of 3-3.5% this fiscal year, with plans to increase it to 6% within the next two to three years. The government’s primary focus is to transition the economy to an export-led model, which he believes is crucial for sustainable growth. Aurangzeb expressed confidence in further credit…