The government has tightened restrictions on non-filers, as Federal Finance Minister Muhammad Aurangzeb announced that non-filers in Pakistan will no longer be able to purchase vehicles or property. However, he assured that no harassment would be involved in tax collection efforts.
Minister Aurangzeb outlined the new regulations for non-filers during his U.S. visit to meet with officials from international financial institutions.
At a press conference in Washington, Aurangzeb emphasized that financial rating agencies recognize Pakistan’s economy is moving in the right direction. He clarified that while no harassment will be employed to enforce tax laws, non-filers will be restricted from buying vehicles or real estate.
The Finance Minister also highlighted the need for legal protections in enforcing actions against non-filers, noting plans to phase out the term “non-filer.” He reported that discussions with U.S. partners were productive and acknowledged Pakistan’s declining inflation rate.
Read: IMF Forecasts Drop in Pakistan’s Inflation Rate to 10.6% by 2025
According to Minister Aurangzeb, financial rating agencies are unified in their view that Pakistan’s economic trajectory is positive.
He further shared that the World Bank will provide grants, rather than loans, to Pakistan, and discussions with the IMF have been constructive. Minister Aurangzeb hoped this would be Pakistan’s final program with the IMF.
He noted that recent measures have contributed to stabilising smaller economic sectors in Pakistan, though he acknowledged that tough decisions remain.
Minister Aurangzeb also met with Moody’s Credit Rating Agency representatives in Washington. Their discussions covered debt sustainability, fiscal policy, external vulnerabilities, government capacity, and financial market resilience. As reported by state media, he thanked Moody’s for upgrading Pakistan’s credit rating.
