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Finance Minister Muhammad Aurangzeb says that no business model can be run with sales tax evasion.

Talking to the media at the Overseas Chambers of Commerce in Karachi, the finance minister said that the economy is stabilising and inflation is gradually decreasing due to the government’s effective policies.

He said that all multinational companies are making good profits in the country, adding that multinational companies have sent a profit of $2.2 billion abroad.

"Multinationals have been asked to increase exports. The private sector has an important role in strengthening the economy. They are the ones who should lead the economy," he emphasised.

"Providing facilities to investors is our responsibility. 'Made in Pakistan' products have to be introduced globally. Steps are indispensable to promote trade and investment," he added.

The finance minister said that foreign remittances are likely to surpass $35 billion this fiscal year, adding that a difficult time comes under control by improving the current account deficit.

"There is no talk with the IMF to impose sales tax on petroleum products. Rs2.2 billion goes to loss-making institutions every day. No business model can be run with sales tax evasion. A loss of Rs6 trillion has been incurred in six years," he stated.

Responding to a question regarding the smuggling of petroleum products, the finance minister said, "We have sealed more than 900 fake petrol pumps."