PM Calls IMF-Backed Tax Slabs Prohibitive That Hurt Investments and Businesses

Prime Minister Shehbaz Sharif acknowledged on Wednesday that the existing taxes obstruct businesses and discourage investment. Speaking at the Pakistan Stock Exchange (PSX) in Karachi he stressed that the government must comply with these IMF-backed conditions to achieve economic independence. The premier called on experts to provide insights for achieving sustainability, emphasizing that the journey toward growth would require careful management and prudent decision-making. The PM acknowledged Pakistan’s reliance on the lender for decades but suggested that the aim is to eventually end this dependency. On the privatization of Pakistan International Airlines (PIA), the prime minister assured that the process would be conducted transparently. Shehbaz praised the stock exchange for being recognized as the world’s second-best-performing market. He also noted that the market still lags behind its peak achieved in 2017. Finance Minister Muhammad Aurangzeb, who also addressed the gathering, highlighted the government’s fiscal achievements. He attributed the PSX’s rally and rising investor participation to renewed confidence in the economy. Aurangzeb lauded equity capital markets for reducing Pakistan’s reliance on banks and playing a critical role in the country’s economic development. He urged PSX to continue driving investor confidence and supporting long-term growth.