Prime Minister Shehbaz Sharif instructed the development of a detailed plan to increase revenue without putting a burden on the common people during a meeting in Islamabad on Thursday.

He mentioned that in the next five years, the goal is to raise the tax-to-Gross Domestic Product (GDP) ratio to 15 percent. Shehbaz highlighted the government’s commitment to empowering provinces, transferring ministries under the 18th amendment, and reducing expenses to tackle the fiscal deficit.

He also called for speeding up reforms and privatizing state-owned institutions that are running at a loss. The Prime Minister supported public-private partnerships to improve services at major airports nationwide.

Shehbaz praised the completion of the standby program with the International Monetary Fund (IMF) and promised full cooperation for the next IMF program.

He emphasized the importance of a detailed plan to reduce external debt and suggested involving international experts for economic growth. The meeting also covered discussions on revenue, taxes, fiscal deficit, foreign exchange reserves, remittances, and the current account.

Progress on revenue, subsidy, and power sector reforms was reviewed in accordance with the Prime Minister’s instructions to cut government spending. Federal ministers and other relevant officials attended the meeting.