annashay 
Peshawar: Federal Finance Minister Muhammad Aurangzeb says that it has been decided not to seek immediate assistance regarding flood damages, and efforts are being made to first fix our own problems in the flood-affected areas.
Addressing the Pakistan Business Summit in Peshawar, the Federal Finance Minister said that at this time, we will not go for international assistance during the flood, and when the full extent of the damage is assessed, we will approach the international community for reconstruction. The provinces played an important role in relief and rehabilitation activities during the flood.
Muhammad Aurangzeb said that the Prime Minister, Field Marshal, Deputy Prime Minister and Planning Minister Ahsan Iqbal and other delegations visited New York, Beijing and other countries. These visits will promote investment and trade in the country and strengthen the economy.
He said that three global rating agencies have upgraded us, which will help in funding matters with commercial banks and international organizations. If we work properly on our resources, we can become a three trillion economy by 2047 according to the World Bank.
The Finance Minister said that if population and climate change are controlled, we can move forward. The Prime Minister has asked for a 300-day plan, on which the Ministry of Finance, the Ministry of Climate Change and other institutions are working. Short-term and long-term measures are being taken for economic stability.
He said that Pakistan’s foreign exchange reserves have reached $38 billion and God willing, $41 billion in foreign exchange is expected to come this year. These 38 billion rupees in remittances have to be included in the economy, including $1.38 billion in Eurobonds.
Muhammad Aurangzeb said that what role should Pakistan play in the world economy, the private sector is very important in this, which brings economic stability to the country, the private sector has to be taken forward and tax reforms have to be carried out in this.
The Finance Minister said that $1.3 billion will be paid in April in the form of Eurobonds, this year the February rate has improved compared to last year. Panda Bonds are also being issued.
He clarified that the performance of the private sector and economic reforms are essential for the development of the country, the government is working on improving the reform structure to take the private sector forward. Several reforms, including energy reform and gasoline reform, are being brought in the next year’s budget.
Muhammad Aurangzeb said that the question is asked, how will the PSDP bring development if it is one trillion, this year the size of the PSDP is four.3 trillion, the federation and the provinces should be seen together in the development budget.
He said that they are working on increasing taxes, the tax policy function is no longer with the FBR, now the FBR’s job is only to collect taxes. Next year’s budget will be given by the Tax Policy Office and the budget of the Tax Policy Office will be a stable budget, a development budget of 4.3 trillion rupees has been kept.
The Finance Minister said that they are working on a policy of growth based on exports. If the people pay taxes, there will be growth. They are improving the tax policy and making it investor-friendly.
Acting President
Speaking at the Pakistan Business Summit, Acting President and Chairman Senate Yousaf Raza Gilani said that Pakistan will have to make further progress in technology and education to gain a place in the world, while the environment needs to be made more conducive for the business community to increase investment.
He said that the economic deficit has reduced and the country’s GDP figures are improving, the textile industry has improved and there are immense opportunities in mineral resources. Today, we have come together for the economic potential, what kind of future do we want for ourselves, we have to make such policies for the future that are interconnected.
Chairman Senate Yousaf Raza Gilani said that technology has completely changed all work while opening new doors of opportunities for people, we have to see whether we are going on the right path or not, special economic zones and upgraded structures have to be created, however, climate change is a challenge.
He said that Pakistan’s population consists of 60 percent youth, we have to take their talent forward, there is a need for skilled people all over the world, now simple BA and MA are not needed, there is a trend in Pakistan that everyone walks in a crowd.
The Acting President said that now everything should not be seen only in IT, policies should be brought in other sectors as well. In this summit, these recommendations should be prepared as to what policy will be brought for the youth, and sent to the federation through the provincial governments.
He said that unless tourism and security are provided, tourism cannot run, I built a hotel in Malam Jabba but Talibanization destroyed it, now we are looking at it again. There is no place where tourism is more than KP, Buddhist followers want to come here, there are excellent stupas here, we should promote religious tourism regarding Buddhism.
Yousaf Raza Gilani said that when we want to end the war on terrorism and agreements were made, but they backed out of the agreement. Malala Yousafzai, a 14-year-old girl, was not given an award in any world, but I called Malala Yousafzai and gave her an award, then three years later the world awarded the same Malala Yousafzai.
He said that due to the war on terrorism, both my sons were kidnapped, but I only watched this war without caring about them. When the Soviet Union was at war, 3.5 million refugees came to Pakistan and are still living in camps.
The Chairman Senate said that we want a peaceful and good neighbor because we have twin identities and a peaceful neighbor is a guarantee of our security. We want good relations with China and other countries, but we do not want these relations on the basis of our people, our people and our security personnel have made a large number of sacrifices.
The Acting President said that when we were talking to India, we told them that there have been many incidents of terrorism, our own Prime Minister Benazir also fell victim to this terrorism and that is why all the talks have been resumed in Bombay Talks.
The event was also addressed by Governor KP Faisal Karim Kundi, Chief Executive Officer of Al Baraka Bank and Federal Minister for Privatization Muhammad Ali.
It should be noted that the Pakistan Business Summit in Peshawar was attended by domestic and foreign business leaders. Acting President Yousaf Raza Gilani, Governor Khyber Pakhtunkhwa and federal ministers addressed the summit.
The theme of the business summit is Shaping What’s Next. Policymakers, industrialists and global experts participated. The summit had special discussions on banking, industry, climate change, technology and artificial intelligence.
