Federal Finance Minister Senator Muhammad Aurangzeb has reiterated government's commitment to reduce expenditures and boost revenues as part of a comprehensive effort to strengthen the country's economy on sustainable grounds.

Addressing a news conference in Kamalia, he, said the federal government would shut down parallel ministries or departments that have been devolved to provinces.

The Minister said Prime Minister has already announced the closure of Pakistan Public Works Department.

Muhammad Aurangzeb said the government will privatize state-owned enterprises which have been a significant drain on the national exchequer.

The Minister said the privatization of SOEs will help reduce the financial burden on the government and improve efficiency.

The Minister also announced that airport outsourcing is being completed, with Karachi airport set to be handed over to the private sector by July or August this year, to be followed by Lahore airport.

He said the government is committed to reducing losses and burdens on the federal government, and these measures are part of a larger effort to achieve this goal. The minister emphasized that the Prime Minister was personally leading the effort to reduce expenditures and improve efficiency.

The minister announced that 32,000 retailers have already been registered and will be taxed starting from July 2024. He emphasized government's commitment to bringing other sectors into the tax net.

He said the government is also focusing on compliance, plugging leakages in the system, and implementing an end-to-end digitization system to reduce human intervention, increase transparency, and end corruption. 

Muhammad Aurangzeb reiterated government's commitment to develop the agricultural sector, saying 41 billion rupees have been earmarked in the federal Public Sector Development Program to promote this sector.

He said government also intends to solarize tube wells, provide loans to small farmers, and develop warehouses to facilitate small farmers. He said, subsidies on fertilizer, seeds and agriculture would continue. 

In the IT sector, the Minister said, the government aims to facilitate freelancers and increase exports from 3.5 billion dollars to 7 billion dollars. 

He said the government's plans aim to strengthen the country's economy by developing key sectors like agriculture and IT.