Finance Minister and Senator Muhammad Aurangzeb has reiterated the government’s focus on strengthening Pakistan’s economy through structural reforms, expansion of the tax base, greater private sector participation and increased foreign investment. Speaking at a Gong Ceremony organized by Arif Habib Corporation at the Pakistan Stock Exchange in Karachi, Aurangzeb said the government was taking measures to create conditions in which private businesses could take a larger role in investment and economic expansion. According to a press release issued after the event, the Finance Minister said government policy was aimed at moving the economy from stabilization towards investment, growth and broader employment opportunities.
Aurangzeb said the government’s policies had contributed to an increase in the number of taxpayers, with tax filers rising to more than 5.7 million compared with around 3.9 million a year earlier. He described the development as an indication of progress in broadening the country’s tax base while emphasizing that economic growth would require continued structural changes. The Finance Minister also discussed the Prime Minister’s Apna Ghar Programme, saying approximately Rs60 billion had already been financed under the initiative, while banks had approved an additional financing pipeline of around Rs340 billion that was awaiting disbursement. He said the banking sector had taken the lead on the financing side, while the supply side needed to accelerate housing development to meet the requirements of the programme.
The Finance Minister also pointed to the role of private sector organizations, including the Association of Builders and Developers, in expanding housing activity and highlighted Real Estate Investment Trusts as a mechanism for bringing additional investment into housing and real estate. He said greater participation from private businesses could help expand the scale of investment while providing more structured channels for capital to enter productive sectors. Aurangzeb also referred to the participation of major Pakistani business groups in the consortium involved in the Pakistan International Airlines transaction. He said the collective investment involving business groups including Arif Habib and Tabba was close to US$1.2 billion, describing the participation as an example of local businesses working together to build scale and pursue larger investment opportunities.
Aurangzeb further said that Turkish interest in Pakistan’s power distribution companies had emerged for the first time, adding another dimension to efforts to attract foreign investment into key sectors. He also highlighted developments in the domestic capital market, particularly the performance of the Pakistan Stock Exchange. According to the Finance Minister, the KSE-100 Index had increased from around 67,000 points in March 2024 to approximately 170,000 points. He also pointed to the expansion of the investor base, with 25,281 new investors added to the Pakistan Stock Exchange during September 2026. This was described as the highest number of new investors recorded in a single month, taking the total investor base to 656,218 compared with 321,144 in March 2024.
The Finance Minister also highlighted increased activity in primary capital markets. He said 11 companies had entered the market during fiscal year 2026, representing the highest number of new listings in more than two decades. A further five initial public offerings had already been completed during the first quarter of fiscal year 2027. Aurangzeb said the developments reflected continued activity in capital raising and market development as businesses increasingly accessed the stock market for investment and expansion. He also referred to the Naya Nazimabad Apartments REIT, noting that the offering received around eight times subscription during book-building and 4.3 times subscription during the general public offering, indicating strong demand for structured investment opportunities.
Aurangzeb said the government’s responsibility was to establish the ecosystem required for private sector investment rather than directly lead business expansion. He cited engagement with US EXIM Bank, other export credit agencies and international partners, along with tariff discussions and negotiations, as part of the government’s efforts to facilitate private sector activity. He stressed the need to improve access to finance for small and medium-sized enterprises, agriculture, housing and other underserved segments of the economy. The Finance Minister also reiterated the government’s objective of shifting Pakistan’s bilateral economic relationships from aid towards trade and investment, while emphasizing the importance of positioning the country to benefit from opportunities emerging in digitalization, blockchain, Web 3.0 and other developing technologies.
The Finance Minister’s remarks placed private investment, capital market development, access to finance and technology adoption at the center of the government’s broader economic agenda. He said Pakistan needed to create an environment that could support investment, business expansion and job creation, with the private sector taking the lead in these areas. He also emphasized continued efforts to deepen capital markets and strengthen investor confidence. The government, according to Aurangzeb, would focus on providing the supporting ecosystem and engaging with domestic and international financial institutions, while businesses would be expected to drive investment and expansion across sectors. The approach outlined at the Pakistan Stock Exchange links the country’s recent stabilization efforts with a broader push towards investment, economic growth and employment opportunities.
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