Oil Minister Musadiq Malik said on Sunday that domestic and international economic indicators showed the country’s “economy is moving in the right direction.”
In an interview GeoNews Program Naya Pakistan and Shehzad IqbalHe said friendly countries and international economic organisations such as IMF and World Bank were sending positive signals about Pakistan’s economic trajectory.
He added that domestic economic indicators also reflect this optimistic outlook, with the stock market hitting new records.
“This not only signals a return of external confidence but also an improvement in internal investor and business confidence,” Malik asserted.
He added that foreign delegations are visiting Pakistan which indicates the country’s economic stability.
The oil minister stressed the importance of broadening the government’s tax base, noting that the burden currently falls disproportionately on salaried workers. [who do not pay taxes] It would be subject to tax, he said.
He also spoke about efforts to curb gas and electricity theft, saying a comprehensive plan was being drawn up to address the issue.
Malik said the government would give preference to the private sector when it comes to foreign investment.
“I want to be very clear that this revolution has to come from the private sector. On behalf of the Prime Minister I must say that this has to be led by the private sector,” he said.
