Finance Minister Muhammad Aurangzeb said on Saturday that Pakistan will be taken towards export and productivity-led growth to ensure sustainable development.
In a press conference today, the finance minister said that there should be exports in each sector, expressing satisfaction that the auto sector has started exports in the last two months.
The minister said there is a rise in foreign exchange reserves on the back of very strong remittances and expressed the confidence that the remittances will touch a record $36 billion this fiscal year.
“Exports are also holding firm with 7 percent growth,” he added.
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He also said that by the end of June, the country’s foreign exchange reserves will reach $13 billion.
The minister said that the FBR revenue collection will increase by 32.5 percent this year, emphasizing that they are deepening the tax base.
He highlighted that 413 billion rupees were collected from the traders, which is up from 189 billion rupees last year.
Aurangzeb said the government is undertaking structural reforms in order to make the current IMF program the last one. He expressed hope that the IMF’s Executive Board would soon approve the second tranche of one billion dollars.
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