Pakistan's key priority is to broaden tax base: Finance Minister

WASHINGTON: Finance Minister Muhammad Aurangzeb has said that broadening the tax base, fixing the energy sector, and undertaking state-owned enterprise (SOE) reforms as key priorities of the government, ARY News reported.

Talking to the President of Asia Infrastructure Investment Bank (AIIB) Jin Liqun in Washington DC, he said that Pakistan is looking to enter into a larger and extended program with the IMF.

The Finance Minister briefed the AIIB President on Pakistan’s positive economic indicators, including improving foreign exchange reserves, a stable currency, declining inflation rates, and a surging stock market.

Muhammad Aurangzeb reaffirmed Pakistan’s commitment to continue working closely with AIIB on the infrastructure development of the country.

The Finance Minister met with Managing Director of International Finance Corporation Makhtar Diop. He expressed gratitude to IFC for its support in the outsourcing of the Islamabad airport, which will be followed by similar initiatives in Lahore and Karachi.

He noted with satisfaction the uptick in IFC activities in the country and requested the corporation’s support in assisting the government in shifting its Public Sector Development Program (PSDP) to PPP mode.

The Finance Minister also met with Deputy Under Secretary for International Finance at the U.S. Department of Treasury Brent Neiman and briefed him on Pakistan’s positive economic indicators in the wake of the Stand-By Arrangement (SBA) signed with the International Monetary Fund.