Finance Minister Muhammad Aurangzeb says the government has made strong progress on the economic front during last one and half year.
He was addressing a ceremony in Islamabad today.
Highlighting the improvement in local business environment, he said the small and medium enterprises debts have increased forty-one percent and the figure of agricultural debts have crossed 2.5 trillion rupees. He said thirty-eight percent increase in the private sector debts has also been witnessed.The Minister said number of investors has increased in the stock exchange with 65 thousand new investors over the last one year.
Muhammad Aurangzeb said company registration has risen to 250,000 annually.
He said structural reforms are also being implemented on huge level and tariff reforms have been started for the first time in the history.He said last year, the government reduced its debt servicing cost by 1 trillion rupees.
He said the process of rightsizing in forty-three ministries and 400 departments is also underway.
The Minister said the government has implemented contributory model in the pension system.The Finance Minister said the privatization of public institutions would move forward quickly this year.Muhammad Aurangzeb said the government will introduce Panda Bonds by the end of this year.
