Lahore, Sunday – Federal Finance Minister Muhammad Aurangzeb has affirmed that Pakistan has achieved economic stability and is now progressing toward sustained growth. Speaking to the media in Lahore, he outlined the country’s economic progress, upcoming budget preparations, and the government’s commitment to tax reforms and private sector development.
Economic Stability & Growth Prospects
Minister Aurangzeb emphasized that key financial indicators show positive trends, reinforcing confidence in the economic outlook. He cited improvements in stock market performance, currency stabilization, and an increase in foreign exchange reserves as evidence of economic recovery.
“The stock market is in a good position, currency stability has been achieved, and foreign exchange reserves have increased,” he stated. These indicators, he added, reflect the government’s success in stabilizing the economy and positioning it for sustainable growth.
Preparations for the Upcoming Budget
With the new fiscal year approaching, Aurangzeb confirmed that preparations for the upcoming budget have begun. The government is actively engaging with business stakeholders to ensure that the budget is balanced and inclusive.
“We are working closely with industry representatives to develop an economic framework that ensures fairness and encourages growth across all sectors,” he noted. The consultations aim to create a budget that supports economic expansion while maintaining fiscal discipline.
FBR Reforms & Taxation Strategy
Aurangzeb also addressed the ongoing reforms in the Federal Board of Revenue (FBR), which aim to make the tax system more efficient and widely acceptable.
“The manufacturing sector and salaried class have borne the brunt of taxation, and now all sectors must contribute their fair share to the economy,” he stated. This reflects the government’s push for equitable taxation and revenue collection, ensuring that all sectors participate in the country’s economic growth.
Boosting Private Sector & Foreign Investment
Recognizing the private sector as the key driver of economic progress, Aurangzeb reaffirmed the government’s commitment to supporting businesses with favorable policies.
“The real progress will come from the private sector, and we must provide them with a conducive policy framework,” he emphasized. He added that investor confidence remains strong and that measures are being taken to attract further domestic and foreign investments.
Overseas Pakistanis’ Contributions & Remittances Growth
Addressing concerns about overseas Pakistanis’ sentiments toward government policies, the finance minister dismissed reports of dissatisfaction. He highlighted his recent visits to Saudi Arabia, Dubai, and Washington, stating that expatriates remain supportive of the country’s economic trajectory.
“We are grateful for their contributions, and we expect remittances to reach $35 billion this year,” he said. Additionally, he pointed to the steady increase in the Roshan Digital Account, a key initiative aimed at attracting foreign investments from Pakistanis living abroad.
Support for National Cricket Team
In a lighter moment, Aurangzeb expressed his full support for the national cricket team, commending their recent performances.
“The team played with determination, and we extend our best wishes to them,” he remarked, acknowledging the importance of sports in national morale.
