Aurangzeb urges tax reforms, energy subsidy cuts to address challenges

Finance Minister Muhammad Aurangzeb emphasized the need for taxation reforms and reduction in energy subsidies to address economic challenges during the World Bank-IMF Annual Meetings. He also highlighted the importance of improving the management of state-owned enterprises to create fiscal space for investments in climate change and child nutrition. In his meetings with various officials, Aurangzeb discussed challenges in the energy sector, praised the Asian Development Bank’s support for Pakistan’s development agenda, and sought collaboration in the digital and financial sectors. He also mentioned Pakistan’s upgraded credit rating and intention to tap into International Capital Markets through panda bonds for financing diversification.