Pakistan, May 2 -- Finance Minister Muhammad Aurangzeb has announced that Pakistan's tax-to-GDP ratio is expected to reach 10.6% by the end of the current fiscal year. This progress, he said, marks a significant step toward the government's broader goal of reaching a 13% ratio by the conclusion of its 37-month program with the International Monetary Fund (IMF). He shared these insights during a Zoom meeting with S&P Global Ratings as part of Pakistan's sovereign ratings review.

Aurangzeb outlined the government's macroeconomic reform agenda, stressing the importance of sustainable growth, higher productivity, and increased exports. Key reforms include the separation of the Tax Policy Office from the Federal Board of Revenue (FBR), which ...