Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, today delivered the keynote address at the Pakistan Business Summit held today at local hotel at Peshawar.
The summit, organized under the aegis of the Governor of Khyber Pakhtunkhwa, themed ‘Shaping What’s Next,’ gathered policymakers, industry leaders, and corporate executives to discuss Pakistan’s economic trajectory, innovation, and global standing. The event was co-hosted by Nutshell Group and Al Baraka Bank (Pakistan) Limited, with strategic partnership from the Overseas Investors Chamber of Commerce and Industry (OICCI).
In his address, the Finance Minister praised the organizers for setting up a high-profile platform in Peshawar and reiterated the government”s dedication to fostering an environment conducive to private sector-led economic growth. He stressed the government”s role in ensuring macroeconomic stability, implementing structural changes, and establishing a favorable ecosystem for business and investment.
Reviewing recent economic strides, Senator Aurangzeb pointed out a notable reduction in financing costs due to policy rate cuts, enhanced foreign exchange reserves covering nearly three months of imports, and exchange rate stability. He remarked that these improvements have bolstered investor confidence and facilitated the repatriation of profits and dividends.
The Minister highlighted a significant rise in remittances, which totaled USD 38 billion last year, with projections of USD 41-43 billion for the current fiscal year. He also noted the successful repayment of USD 500 million in Eurobond obligations in September without market disruption, and assured readiness for the upcoming USD 1.3 billion repayment in April 2026.
On the topic of structural reforms, Senator Aurangzeb reiterated the government”s determination to execute comprehensive tax reforms, separating tax policy from administration to enhance credibility for investors. He emphasized ongoing reforms in state-owned enterprises, privatization, and energy pricing as vital parts of the economic reform agenda.
The Finance Minister also elaborated on Pakistan’s export-led growth strategy, tariff reforms aimed at lowering duties on raw materials and intermediate goods, and initiatives to attract effective foreign direct investment (FDI). He referred to recent engagements in Beijing, Riyadh, Washington, and New York as examples of renewed investor confidence, including 24 new joint venture agreements with Chinese firms. He announced plans for Pakistan’s first Panda Bond issuance by the year”s end, tapping into China’s expansive capital markets.
Senator Aurangzeb highlighted that Pakistan’s route to sustainable growth lies in enhanced competitiveness, private sector vitality, and strengthened federal-provincial coordination. He emphasized the importance of efficiently utilizing the Rs. 4.3 trillion national development budgets for infrastructure, health, and education.
Addressing long-term challenges, the Finance Minister identified climate change and population growth as critical issues for Pakistan. He urged for immediate action on child stunting, learning poverty, and climate resilience as they directly impact the nation’s future productivity and leadership.
In conclusion, Senator Aurangzeb reaffirmed the government’s commitment to guiding Pakistan towards sustainable economic recovery, global competitiveness, and resilience, ensuring that reforms and growth translate into real benefits for the Pakistani people.