Everything will have to be handed over to the private sector: Aurangzeb

Finance Minister Senator Muhammad Aurangzeb said schools and hospitals may be run as charities, but taxes rule the country.

In a conversation with the media in Kamalia, the Minister of Finance said that it is necessary to gradually reduce tax exemptions, increase the tax net, and include other sectors in the tax net.

Aurangzeb added that the tax will be imposed on the seller from July, adding that there are certain rules but the authorities are not collecting the tax properly.

He said digitization of taxes will reduce corruption and GDP depends on taxes while the entire system relies on taxes.

The Finance Minister said that the country’s economy is on the way to improvement. He added that the private sector can play an important role in the country’s development.

The question is often asked: “Why don’t you reduce your expenses? When it comes to government spending, there are two things to note. First, the federal government should abolish those ministries whose subjects have been eliminated. We are considering reducing government spending and you will see practical steps in this regard in the next few weeks.

Senator Muhammad Aurangzeb said the private sector can play an important role in the country’s development. Karachi airport outsourcing will be completed in July. If help is needed, everything will have to be handed over to the private sector. The government’s burden will have to be reduced, and we intend to reduce it. If PIA had been privatized 10 years ago, there would not have been such big losses, he added.