Senator Aurangzeb stresses govt focus on private sector-led growth

Finance Minister Muhammad Aurangzeb has reaffirmed the government's plan to steady the economy through structural changes, a broader tax base, a larger role for private enterprise and more foreign investment, according to Mettis Global. Addressing a gong ceremony hosted by Arif Habib Corporation in Karachi at the PSX, he said authorities were taking every feasible step to let private businesses drive a growth-led economy.

He argued the economy was on a sound path because prudent policies had lifted the number of taxpayers, with tax filers rising above 5.7mn from about 3.9mn a year earlier. Aurangzeb also said the government was working to draw in investment and broaden financing options through the Apna Ghar scheme, which has disbursed about Rs60bn so far.

He pointed to domestic investor involvement and said the PIA consortium had ticked many boxes, adding that enterprises came together for the bidding, demonstrating that major domestic groups are capable of cooperating for a bigger cause. He further noted that Turkish interest has emerged in DISCOs, the power distribution firms, for the first time.