Finance Minister Archives

Pakistan’s economy shows signs of improvement, Finance Minister says

July 8, 2026 by Newsdesk

ISLAMABAD: Finance Minister Muhammad Aurangzeb said Wednesday that the country’s key economic indicators have improved under the new fiscal year’s budget, citing lower inflation, stronger foreign exchange reserves and increased investor confidence.

Aurangzeb made the remarks during a meeting with a delegation from S&P Global Ratings, where the two sides discussed Pakistan’s economic outlook, sovereign credit profile and the government’s reform agenda.

The finance minister said economic reforms and fiscal policies had led to continued improvements in Pakistan’s economic performance. He added that a lower fiscal deficit, a record primary budget surplus and improved debt management had strengthened the country’s fiscal sustainability.

According to a statement, the S&P delegation acknowledged the government’s commitment to economic reforms, fiscal discipline, debt sustainability and macroeconomic stability.

Officials also briefed the delegation on ongoing reforms in taxation, the energy sector, state-owned enterprises, privatization, governance and public financial management, saying the measures were aimed at strengthening the economy and improving international investor confidence.

Punjab budget 2026-27 to be presented in assembly on June 16

June 15, 2026 by Newsdesk

Punjab: Punjab Finance Minister Mujtaba Shuja-ur-Rehman will present the provincial budget for fiscal year 2026-27 in the assembly for approval on June 16.

The provincial minister will brief assembly members on key budget proposals and overall fiscal outlines, officials said.

Before its presentation, the budget will be approved by the provincial cabinet.

This will be the third budget of the Punjab government under Chief Minister Maryam Nawaz Sharif.

Officials said the upcoming budget reflects the government’s “pro-people vision” and will focus on expanding provincial revenue, broadening the tax base, and promoting business and industrial growth.

Employment generation, education, healthcare, and social protection have been identified as key priorities, with existing welfare programmes expected to continue in the new fiscal year.

The finance minister said budget resources will be directly linked to public welfare initiatives, aiming to ensure broader economic and social development across the province.

Finance Minister Aurangzeb says economy moving in right direction

June 13, 2026 by Newsdesk

ISLAMABAD: Finance Minister Muhammad Aurangzeb said Saturday that Pakistan’s economy is moving in the right direction and the country is now shifting from stabilization toward growth.

Addressing a post-budget press conference in Islamabad, Aurangzeb said the government aimed to provide relief to lower-income salaried individuals, noting reductions in income tax rates for different salary brackets.

He said the tax rate for certain salaried categories had been reduced from 5% to 1%, while another bracket was lowered from 15% to 13%, adding that feedback on measures targeting higher-income earners and surcharges had been positive.

The finance minister said taxes in the construction sector had been reduced to encourage activity, while agricultural credit had increased by 15%, exceeding 2 trillion rupees in volume.

He added that efforts were underway to strengthen a fertilizer-related scheme and that small farmers would no longer be required to mortgage their homes to access loans. He also said a youth loan program worth 262 billion rupees includes 125 billion rupees allocated for agriculture.

Aurangzeb said customs duties, additional customs duties and regulatory duties had been eliminated on imported agricultural machinery to support the sector.

He said inflation is expected to ease further if geopolitical tensions in the Middle East subside, adding that economic stability indicators have shown improvement over the past year.

The minister said the government had introduced measures in the budget to improve taxation and export systems, including 70 billion rupees in additional subsidies aimed at boosting exports.

He acknowledged pressure on the energy infrastructure but said it would continue to remain a challenge in the coming fiscal year.

Aurangzeb also expressed gratitude to provincial governments for their financial cooperation with the federal government, saying the arrangement would continue for the next three fiscal years.

Finance Minister highlights 3.7% growth despite external pressures

June 11, 2026 by Newsdesk

ISLAMABAD: Pakistan’s economy demonstrated resilience during the outgoing fiscal year despite domestic and international challenges, Finance Minister Muhammad Aurangzeb said Thursday while presenting the National Economic Survey.

Speaking in Islamabad, Aurangzeb said the survey reflects the country’s economic performance over the entire fiscal year, which began amid uncertainty caused by monsoon-related disruptions and global economic volatility, including tariff measures imposed by the United States on several countries.

He said the government successfully navigated multiple crises and that the economy performed better than expected despite internal and external pressures. Pakistan recorded economic growth of 3.7%, slightly below the government’s target of more than 4%.

Aurangzeb said the growth rate would likely have exceeded 4% had it not been for the crisis in the Middle East. He added that Pakistan’s economy expanded to more than $452 billion, while per capita annual income increased from $1,751 to $1,901.

The finance minister noted that global uncertainty had affected economies worldwide but said Pakistan maintained positive economic momentum despite regional tensions.

He said the petroleum sector posted 5% growth, while the current account recorded a surplus of $72 million during the July-March period. The agricultural sector grew by 2.89%, with dairy and livestock accounting for about 60% of agricultural output.

Aurangzeb also highlighted gains in exports, saying sports goods exports have surpassed $3 billion and information technology exports are expected to reach $4.5 billion. He noted that footballs manufactured in Pakistan will be used at the FIFA World Cup.

The minister said reducing imports remains a government priority and added that foreign exchange reserves currently stand at $17.1 billion and are projected to reach $18 billion by the end of June.

Eight working groups formed ahead of 11th NFC award

December 16, 2025 by Newsdesk

ISLAMABAD: Eight working groups have been formed by the federal government to draft recommendations for the 11th National Finance Commission (NFC) Award, according to sources.

A working group on provincial jurisdictional expenditures has been formed, headed by the Finance Minister of Punjab. Another group on resource-sharing ratios between the federal and provincial governments will be led by the Finance Minister of Balochistan.

Additional working groups include: national debt structure and utilization, improving tax-to-GDP ratio, led by the Finance Minister of Khyber Pakhtunkhwa, direct transfer of resources to provinces, headed by the Finance Minister of Sindh, integration of former FATA and NFC shares and structure of the divisible pool, led by Finance Minister Mohammad Aurangzeb.

The first meeting on the 11th NFC award was held on December 4, during which the formation of these working groups was approved.

The second meeting is expected by mid-January, where each working group will present its recommendations within its area of focus.

These working groups aim to ensure a transparent and efficient resource distribution framework between the federation and the provinces.

Federal Government sets December 4 for key NFC meeting

November 22, 2025 by Newsdesk

ISLAMABAD: The federal government has scheduled the 11th National Finance Commission (NFC) meeting for December 4, bringing together federal and provincial representatives to review the country’s financial framework.

The session will be chaired by Federal Finance Minister Senator Aurangzeb and attended by the finance ministers of all four provinces along with private members.

According to the agenda, the federal secretary will brief participants on the financial position of the federal government, while provincial representatives will give 10-minute briefings on their respective fiscal situations.

The Finance Ministry stated that the December 4 meeting will finalize the schedule and timelines for subsequent sessions aimed at determining the National Finance Commission Award.

Aurangzeb highlights Google’s interest in turning Pakistan into export hub

November 5, 2025 by Newsdesk

KARACHI: Federal Finance Minister Muhammad Aurangzeb announced that Google intends to develop Pakistan as an export hub, a move that underscores increasing global confidence in the country’s economic potential and digital growth prospects..

Speaking at the Future Summit in Karachi, the finance minister said Pakistan’s economy is moving in the right direction, with a renewed focus on production-led and sustainable growth. “The private sector plays a crucial role in driving economic progress. Our goal is to make Pakistan an export-oriented economy, with particular focus on the IT and maritime sectors,” he added.

Aurangzeb noted that international rating agencies have acknowledged Pakistan’s improving economic indicators, highlighting macroeconomic stability and a 9 percent rise in corporate profits.

He further said that efforts to broaden the tax base have resulted in an increase of 900,000 new filers. “Digitization will bring transparency to the economy, and countries like Egypt have expressed interest in learning from Pakistan’s FBR reforms,” he remarked.

The finance minister emphasized that structural reforms are essential for sustainable economic growth. He added that Pakistan will continue to build an ecosystem to leverage global diplomatic successes, promote AI-driven development, and tap into the vast potential of the blue economy.

Aurangzeb also disclosed that the government has decided to privatize 24 state-owned enterprises, with the privatization of Pakistan International Airlines (PIA) expected to be completed before the end of this year.