Finance Minister Muhammad Aurangzeb on Wednesday expressed confidence that inflationary pressures will remain under control, citing lower oil prices as a key factor. He also outlined the government’s efforts in response to the ongoing floods, including rescue, relief, and infrastructure rehabilitation initiatives.
Aurangzeb shared these insights during a meeting with a delegation from the Pakistan Business Council (PBC), led by CEO Javed Kureishi and Chairperson Dr. Zeelaf Munir, at the Finance Division. The minister briefed the delegation on the state of the economy, highlighting that macroeconomic indicators are moving in the right direction.
Touching upon the ongoing flood situation, the minister emphasized the government’s ongoing efforts in flood rescue and relief, infrastructure rehabilitation, and needs assessments, drawing on lessons from the 2020 floods.
On inflation, the finance minister expressed optimism that price pressures will remain in check, particularly due to lower oil prices, which help control imported inflation. He also mentioned that the Steering Committee on Inflation, formed by the Prime Minister, had already held its first meeting, with the second meeting scheduled later this week.
Aurangzeb highlighted the progress on the government’s reform agenda, including reforms to State-Owned Enterprises (SOEs), the privatization program, and efforts to streamline the public sector, all aimed at securing long-term economic stability.
The finance minister also emphasized the importance of upgrading infrastructure—port, road, and rail systems—critical for supporting domestic commerce and expanding external trade opportunities.
Discussing international trade, Aurangzeb informed the delegation about ongoing tariff negotiations with the United States, presenting significant opportunities for Pakistani exporters. He urged PBC and similar business bodies to take the initiative in fostering business-to-business engagements to enhance trade and investment.
The finance minister also shared updates on the prime minister’s recent visit to China, which resulted in strategic dialogues, robust business interactions, and the signing of several MoUs, underlining the government’s strong commitment to enhancing bilateral economic ties with China.
Finally, Aurangzeb informed the delegation about the government’s decision to relocate the Tax Policy Office from the Federal Board of Revenue (FBR) to the Finance Division to ensure alignment of tax policies with broader economic planning.
In response, the PBC delegation expressed their appreciation for the government’s economic direction and assured their full support in policy research and formulation, committing to continued dialogue and cooperation.
