Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has outlined six economic priorities for Pakistan, highlighting the need to preserve macroeconomic stability, support sustainable growth, continue structural reforms, attract trade and investment, expand access to finance and prepare the country for emerging technologies. He made the remarks during his visit to the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, where he addressed members and stakeholders on the country’s economic direction and the role of the private sector.
The finance minister said Pakistan’s economy has moved from a period of contraction and stabilisation towards growth, but maintaining that progress will require a focus on sustainable economic expansion. He said the private sector would have to play a central role in investment, productivity, exports and employment, while the government’s responsibility would be to maintain a conducive business environment, provide an effective policy framework and strengthen the investment ecosystem.
The first priority outlined by the minister is to bring permanence to macroeconomic stability by developing lasting fiscal and external resilience and improving the country’s ability to absorb economic shocks. The second priority is to move beyond stabilisation towards sustainable, inclusive and responsible growth driven by productivity, investment, exports and employment. He said the objective is to avoid returning to the boom-and-bust cycle and instead establish a more durable basis for economic activity.
The third priority involves continuing structural reforms through sustained, credible and implementation-focused measures. According to the minister, reforms have progressed beyond the design stage and are now being implemented across areas including taxation, energy, State-Owned Enterprises, privatisation and public finance. He said continued reform implementation would remain important for strengthening the economy and improving the environment for businesses and investors.
The fourth priority is to shift Pakistan’s international economic engagement from aid towards trade, investment and private capital flows. The minister said the country’s bilateral economic relationships are being reoriented around commercial opportunities, while the government is engaging with US EXIM Bank, other export credit agencies and international partners. He also referred to tariff discussions and negotiations as part of efforts to support trade and investment and create conditions for greater participation by domestic and international businesses.
The fifth priority focuses on expanding access to finance for small and medium-sized enterprises, agriculture, housing and underserved segments of the economy. The finance minister said Rs60 billion has already been financed under the Prime Minister’s Apna Ghar Programme, while banks have approved a further substantial pipeline. He said the challenge is increasingly moving from the availability of financing towards strengthening the supply side so that available credit can translate into construction, investment, employment and wider economic activity.
The sixth priority is to position Pakistan for the New Economy through digitalisation, blockchain, Web 3.0 and other emerging technologies. The minister highlighted the potential of these areas to support investment, innovation, exports and employment. He also linked technology development with the broader effort to create new economic opportunities and strengthen Pakistan’s participation in evolving global markets.
On domestic investment and capital formation, Senator Aurangzeb referred to the transaction involving Pakistan International Airlines, saying major Pakistani business groups had worked together and collectively mobilised close to $1.2 billion. He described the development as an indication of the growing capacity of domestic investors to create scale and pursue larger investment opportunities. He said the government’s role is to provide an enabling business environment in which such investment can expand.
The minister also discussed efforts to attract foreign investment into Pakistan. He said interest is emerging in sectors including mining and minerals, technology, agriculture, oil and gas and refinery upgrades. He also referred to interest from Turkish investors in the privatisation of electricity distribution companies and interest from Saudi and other international investors across different sectors. He noted that foreign investment takes time to materialise and requires policy continuity, effective facilitation and a supportive investment ecosystem.
Tax reform and revenue mobilisation were also highlighted during the discussion. Senator Aurangzeb said the number of tax filers has crossed 5.7 million, compared with around 3.9 million last year and approximately 1.8 million to 1.9 million in 2022. He said revenue mobilisation would continue alongside taxpayer facilitation and efforts to build greater trust, with digitalisation and data expected to play an increasing role in tax administration.
The finance minister stressed that stronger and more efficient revenue collection is important for maintaining fiscal stability and creating additional space for productive investment. He also emphasised the need to deepen Pakistan’s capital markets so that domestic savings can be channelled towards infrastructure, housing, privatisation and private-sector expansion. According to him, the government is working to strengthen the wider capital-market ecosystem and create additional avenues for capital formation.
The discussion at OICCI also covered the broader business environment and measures required to facilitate investment and private-sector-led growth. Senator Aurangzeb reiterated that Pakistan’s economic trajectory would increasingly depend on the ability of businesses to invest, innovate, create employment and expand productive capacity. He said the government would focus on policy continuity, facilitation and sound economic governance while continuing efforts to strengthen investor confidence and establish lasting macroeconomic stability.
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