Finance Minister Muhammad Aurangzeb has stressed for reforming tax system to improve country's economy.

Addressing Gong ceremony at Pakistan Stock Exchange in Karachi this morning, he said we are working with law ministry and FBR to remove leakage in tax revenue and broaden the tax net.

Muhammad Aurangzeb said government is working on a two-prong strategy, short and medium term, for carrying out structural reforms.

He said reforms in FBR are carried out by introducing a track and trace system and digitizing its operations to ensure transparency and enhancing tax collections.

Highlighting the role of private sector in economic development, he said the importance of capital market in promoting economic development is fundamental.

He said in coordination with the relevant departments, the government will work on creating a conducive regulatory environment for economic growth.

The government will focus more on capital market to enhance market efficiency, transparency and investor protection. 

Alluding to importance of Chinese investment and partnership, the Finance Minister called for increasing cooperation between Pakistan Stock Exchange and Chinese stock exchanges.

Later, talking to media, he said a twelve billion rupees Ramadan package has already been given by government to provide relief to the people.

He said current account of the country is improving and it was in surplus last month.