‘Stable’ economy restoring int’l institutions’ trust in Pakistan, claims finance minister

Finance Minister Muhammad Aurangzeb said on Sunday that the country’s economy was stabilizing, restoring the trust of international institutions in Pakistan, reported 24NewsHD TV channel.

Addressing a press conference in Islamabad, he said that the inflation rate in the country had plummeted from 38 per cent to 12 per cent, while the country’s foreign reserves presently stood at $9 million.

“The World Bank (WB) has approved $1 billion for the Dasu Dam,” he informed.

He hoped that the digitalization of the Federal Board of Revenue (FBR) would help control corruption.

Aurangzeb said that in order to stop tax evasion, introduction of reforms in the FBR was necessary.

He said the government would bring the tax to GDP ratio to 12 per cent in the next three years.