Countries Operate on Taxes, Not Charity: Finance Minister Muhammad Aurangzeb

Islamabad: Finance Minister Muhammad Aurangzeb extended heartfelt Eid greetings to the nation and met with farmers and businessmen in Kamalia to discuss regional achievements and challenges.

He clarified that countries operate on taxes, not charity.

The Finance Minister noted that agricultural and industrial growth in Kamalia is promising.

Minister Aurangzeb reiterated the principles from his budget speech, emphasizing that while charity supports schools, universities, and hospitals, a country's treasury depends on taxes.

The minister stated that the economy is improving and stressed the importance of a balanced system for sustained growth.

Tax System Enforcement

He announced efforts to expand the tax net, with 31,000 to 32,000 retailers registered, and pre-tax enforcement for retailers starting in July.

Tax Compliance

The Finance Minister emphasized strict enforcement of tax laws, asserting that tax authorities must ensure compliance.

No Reduction in Government Expenditure

Aurangzeb acknowledged no reduction in government expenditure and stressed the need to cut costs, mentioning that certain ministries are earmarked for closure.

Sales Tax Priority

He indicated a preference for sales tax and mentioned integrating previously untaxed departments into the tax system.

Minister Aurangzeb shared his experience in the private sector for six years, expressing confidence in understanding both sectors' potential and limitations.

Finance Minister Aurangzeb conveyed optimism about the economic future and reiterated the importance of tax enforcement and reducing government expenditure for sustainable growth.