Karachi: Finance Minister Muhammad Aurangzeb has said federal government has decided to sell 24 state entities while privatization of PIA will be completed before the end of the year.

" Government is moving ahead the privatization process on fast track basis. 39 ministries are being merged through rightsizing in federal government. A large company of Emirate has acquired a Pakistani bank. Work is underway on transactions of PIA and power distribution companies. Defined contribution scheme is being introduced for new government employees, he said this while addressing the inaugural session of the 9th Edition of 'The Future Summit' in Karachi Wednesday.

He said the role of private sector is vital in the national economy. Private sector has to lead the country. Economic development based on production is only durable way. National economy is on right track. Macroeconomic stability of Pakistan has been appreciated at international level.

International rating agency has acknowledged betterment in economy of Pakistan.

He underlined several world countries are bringing reforms in economic system. Tariff regime is being more focused all over the world.

Pakistan is included in the list of third largest free lancers. Pakistan has to be made hub of exports. Structural reforms are must for durable economic growth. Transparency will come in economy due to digitalization. Blue economy has full potential.

Number of tax filers has surged and 9 lac new filers have been included in tax filers. Egypt has requested for learning from FBR reforms.

Corporate profit has hiked by 9 percent. Google wants to make Pakistan export hub. Focus will be placed on IT and maritime sector.

Pakistan has entered into implementation phase and not policy making phase.