Improving Taxes Must To Sustain Long-term Growth: Aurangzeb

Sumaira FH Published November 08, 2024 | 10:30 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Nov, 2024) Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Friday highlighted the importance of taxes to sustain long-term growth.

“Philanthropy is a valuable resource, but the country needs taxes to sustain long-term growth,” the federal minister said at the 10th Islamabad Literature Festival in a conversation with Vaqar Ahmed, titled ‘Economic Stabilization and the Journey to Growth.

Speaking on the country’s investment climate, the minister said that the figures were visible to all. He said, energy costs are moving towards affordability, but further structural reforms are necessary.

State-Owned Enterprises (SOEs) must undergo reform and should be privatized, he said adding the private sector must take the lead, and the dependency on the government must be reduced to allow for more efficient and effective management.

It is pertinent to mention here that the 10th edition of the Islamabad Literature Festival (ILF), organized by Oxford University Press (OUP) Pakistan, in Collaboration with Getz Pharma, and NEO Paints (Gold Sponsor) opened to an enthusiastic crowd on Friday.

The theme ‘Sustainability: Words Change Mindsets,’ was well received and enabled persuasive discourses throughout the day. ILF has become a vital platform for intellectual growth and literary exploration in the beautiful capital of Pakistan.