Islamabad, February 23, 2025 – Federal Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to fair taxation and essential economic reforms, assuring the business community that their concerns will be addressed transparently. Speaking at the third All Pakistan Chambers Presidents Conference at the Faisalabad Chamber of Commerce & Industry (FCCI), Aurangzeb emphasized the need for collaboration between the government and the private sector to achieve sustainable economic growth. Addressing business leaders, Aurangzeb highlighted that Pakistan’s economy is now on the right track but requires the private sector to play an active role in ensuring long-term recovery. He stressed that before the budget announcement in May-June, consultations with the business community would continue, ensuring open discussions on taxation policies and economic strategies. Aurangzeb acknowledged the significant role of businesses in Pakistan’s economic revival and pointed out that the country is currently operating under the International Monetary Fund (IMF) programme, which influences its economic policies. Despite these challenges, he assured that the government has a clear economic direction and will keep all stakeholders informed about future policy changes. One of the key reforms Aurangzeb discussed was the Federal Board of Revenue (FBR) restructuring. He stated that the FBR would now focus solely on revenue collection, while the Ministry of Finance would handle policy-making matters. This separation, he explained, would lead to greater efficiency and transparency in taxation. Aurangzeb stressed that economic sustainability hinges on fair taxation, but this requires eliminating corruption. He urged all stakeholders to support the government’s anti-corruption drive, emphasizing that Pakistan’s tax-to-GDP ratio currently stands at 9-10%, which is insufficient for long-term development. He noted that sectors like agriculture and retail have not been contributing adequately, but in a historic move, agricultural taxation has been introduced…