ISLAMABAD, Dec. 8 (Xinhua) -- Pakistan's Minister for Finance and Revenue Muhammad Aurangzeb on Saturday said that the country's economy is on an upward trajectory due to increasing investment inflows and promising reforms to strengthen economic foundations.

Chairing a meeting with the Overseas Investors Chamber of Commerce and Industry in the southern port city of Karachi, Aurangzeb called the current investment environment in the country "fantastic," noting that the economy is "moving in the right direction."

He projected that remittances from overseas Pakistanis are expected to surpass 35 billion U.S. dollars during the ongoing fiscal year 2024-25, a milestone that would reinforce the country's foreign exchange reserves and overall economic stability.

According to Aurangzeb, inflation is in consistent decline thanks to the government policies aimed at economic recovery.

Talking about measures to broaden the tax net, he said that real estate, agriculture, wholesale, and retail sectors would also be included in it, adding that the government is working to address tax leakages, particularly in sales and income taxes, through digitalization to enhance transparency and efficiency in revenue collection.

The minister emphasized the importance of continuity in economic policies, which should remain stable to ensure sustained growth and investors' confidence.

He called on the private sector to take a more active role in driving economic progress, highlighting its potential as a critical partner in national development.

The minister also urged media organizations to promote Pakistani products in international markets to boost exports and enhance the country's global presence.

"The country is witnessing positive economic momentum, and we are taking every measure to ensure this progress translates into tangible benefits for all segments of society," Aurangzeb said. Enditem

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