Islamabad – At the opening session of the Pakistan Banking Summit 2025, Federal Finance Minister Senator Muhammad Aurangzeb stressed the government’s commitment to driving structural reforms aimed at laying the foundation for a resilient and sustainable economy. Speaking at the two-day event, which was organized by the Pakistan Banks Association (PBA), Aurangzeb called for active participation from every sector in efforts to foster export-led growth.
The summit, which brought together banking industry leaders, policymakers, and stakeholders, serves as a platform for collaboration within Pakistan’s banking sector, with a focus on enhancing the sector’s role in the country’s economic development. Senator Aurangzeb’s address underscored the government’s determination to reform the country’s economic structure to achieve long-term stability and growth.
During his remarks, Aurangzeb highlighted the progress the government has made in terms of macroeconomic stability. Key indicators such as the current account balance, inflation, and stock market performance have shown significant improvements, reflecting the success of the government’s tough economic decisions. He emphasized that these measures, although difficult, were necessary to steer the country toward a more sustainable economic trajectory.
The Finance Minister went on to discuss the government’s comprehensive reform agenda, which includes initiatives aimed at strengthening Pakistan’s fiscal and governance structures. Notable reforms in the Federal Board of Revenue (FBR), public sector entity rightsizing, energy sector restructuring, and fiscal prudence have been implemented to build a more resilient economy. The focus on tax policy formation, he said, goes beyond mere mathematical calculations; it is about creating policies that consider the economic value and the broader national interest.
“We are heading in the right direction,” said Aurangzeb, pointing to the positive feedback from investors as a testament to growing confidence in Pakistan’s economy. However, he acknowledged that the country still faces numerous challenges, including the impact of population growth and climate change. The finance minister highlighted the government’s ongoing efforts to address these challenges, including a ten-year country partnership with the World Bank, focusing on key sectors such as population growth, climate change, and fiscal discipline.
Aurangzeb also touched upon the critical issue of export-led growth, stressing that Pakistan’s economy must evolve to rely on exports across all sectors, not just textiles. “Every sector and segment of the economy must contribute to export enhancement,” he said. The government, he assured, is fully committed to supporting competitiveness and encouraging export-oriented investments.
Addressing the banking sector’s role in this transformation, Aurangzeb emphasized the need for banks to prioritize financing for small and medium-sized enterprises (SMEs), agriculture, livestock, and other critical sectors that contribute to national growth. The finance minister expressed his support for the banking sector’s continued involvement in the national economy’s documentation process, which will help drive transparency and ensure access to financing for the underserved segments of society.
The minister also praised the PBA for its efforts in organizing the summit, which he believes will serve as an inclusive platform for discussing the banking sector’s challenges and exploring viable solutions. He also expressed hope that the summit would foster greater collaboration between the public and private sectors, contributing to the broader goal of economic stability and sustainable growth.
In response to questions from the media, the Finance Minister announced that an International Monetary Fund (IMF) team would be arriving to review climate finance measures, while another team is scheduled to visit in March for the IMF’s half-yearly review of Pakistan’s economic performance.
Earlier in the session, Zafar Masud, Chairman of the PBA and CEO of Bank of Punjab, spoke about the banking sector’s key role in driving Pakistan’s economic progress. Masud highlighted the sector’s significant contribution as the largest tax collector for the FBR and its growing role in enhancing financial inclusion, particularly through the promotion of a cashless economy.
The event provided an opportunity for the PBA to emphasize the importance of transitioning the agriculture and SME sectors into the formal economy, expanding their access to banking services and financial opportunities.
The Pakistan Banking Summit 2025 serves as a vital step in strengthening collaboration between Pakistan’s banking sector and the broader economy, with an eye toward greater sustainability, resilience, and inclusive growth in the years ahead.