ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, Thursday, while reiterating the government’s commitment to carry on with broad-based reforms agenda on taxation, energy and state-owned enterprises (SOEs) said that Pakistan is making all-out efforts to take the tax-to-GDP ratio to 13.5 percent.

The minister said this here while talking to US Ambassador Donald Blome who called on him. During the meeting, both the officials discussed matters pertaining to mutual interest and bilateral cooperation.

Aurangzeb, reiterating the government’s unwavering resolve to carry on with broad-based economic reforms related to taxation, energy sector and SOEs, said the government was committed to raising the country’s tax-to-GDP ratio to 13.5 percent by plugging leakages and bringing untaxed sectors in the net.

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He said the government under Prime Minister Shehbaz Sharif had approved a comprehensive transformation plan for the Federal Board of Revenue (FBR) and brought in experts on the Board of PRAL (IT arm of the FBR).

Senator Aurangzeb called the macroeconomic reforms “work in progress” and pointed to more serious challenges of climate change and child stunting which threatened to perpetuate inequalities and disrupt the pace of economic growth and stability in Pakistan over the medium to long-term. He said Pakistan looked forward to building climate resilience through adaptation reforms and averting malnutrition with the technical and financial support of development partners for ensuring holistic development goals.

US Ambassador Blome appreciated Pakistan’s efforts for improving macroeconomic stability and lauded the government for initiating challenging and bold reforms, particularly, in the taxation and energy sectors.

He reaffirmed his commitment to enhancing bilateral cooperation in technical and development initiatives, and promoting high-quality US investment for economic growth of Pakistan.

Copyright Business Recorder, 2024