Minister of State for Finance Bilal Azhar Kayani on Saturday visited the Karachi Chamber of Commerce and Industry (KCCI) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), reaffirming the government’s commitment to inclusive, consultative, and growth-oriented economic policymaking ahead of the upcoming federal budget.
During his visit to the KCCI, he thanked the business community for facilitating the engagement, noting Karachi remains the “heart of Pakistan’s business and economic activity.” He emphasized that such consultations are central to shaping national fiscal priorities.
Kayani said the government, under the leadership of Prime Minister Shehbaz Sharif, and Finance Minister Muhammad Aurangzeb, is actively engaging stakeholders nationwide to incorporate feedback from exporters, traders, and industry representatives into budget formulation.
The minister highlighted that, since February 2024, Pakistan has witnessed measurable macroeconomic stabilization. He noted improvements in inflation control, tax collection performance, and external account stability. He said Pakistan has successfully navigated key stages of its program with the International Monetary Fund (IMF), with two major review levels cleared, contributing to improved foreign exchange reserves and overall economic confidence.
Acknowledging past structural challenges, particularly cyclical “boom-and-bust” patterns driven by import-led growth without sufficient export expansion, he stressed that breaking this cycle was a top priority of the government. Sustainable economic expansion, he stressed, must be driven by exports, productivity, and industrial competitiveness.
Kayani noted that recent government initiatives, such as the Exporters’ Recognition Awards, were part of a broader strategy to prioritize export growth as a national economic pillar. Sustainable and inclusive growth, he said, would ensure economic benefits are distributed across all segments of society.
The minister said the prime minister had constituted nine working groups comprising experts and stakeholders from different sectors to develop targeted policy recommendations for long-term economic growth, maintaining they aimed to improve coordination between government and industry and address structural bottlenecks in key sectors of the economy.
On energy pricing, Kayani said petroleum prices change in accordance with global trends, adding the government had absorbed part of the burden through fiscal adjustments and targeted subsidies, particularly for vulnerable segments of society, in some instances.
Referring to Pakistan’s broader foreign policy role in regional stability efforts, he said both the civilian leadership and the military leadership were working in this regard. He said the government has simultaneously managed the economic spillovers of regional tensions while maintaining focus on domestic economic stabilization. He also appreciated the media for its help.
Separately, during his visit to FPCCI, Kiyani underscored the government’s unwavering dedication to fostering a collaborative partnership with the private sector to drive national prosperity.
He hailed the business community as a vital pillar of Pakistan’s economy, instrumental in generating tax revenue, employment, and industrial expansion. Emphasizing a culture of sustained engagement, he confirmed the government is actively integrating stakeholder feedback into its budgetary planning for the upcoming fiscal year to align policy priorities with the needs of productive sectors.
The minister said economic stability over the past two years had established a robust foundation for future tax rationalization and meaningful relief measures. Bolstered by improved fiscal discipline, the government continues to navigate global economic volatility, exemplified by its proactive efforts to shield citizens and businesses from sudden energy price spikes, he maintained.
Kayani stressed the government’s commitment to long-term predictability is reflected in its five-year National Tariff Policy, seeking to simplify customs structures by June 2030, while ongoing comprehensive reforms within the Federal Board of Revenue, including advanced digitization through PRAL, are set to streamline operations and enhance ease of doing business. He also shared promising updates regarding the expansion of the Roshan Digital Account to foreign companies and individuals, alongside a strong assurance that existing net-metering contracts remain fully protected.
Reiterating the government’s vision for inclusive growth, he pledged that continued collaboration with the business community would remain at the heart of Pakistan’s journey toward sustainable economic success.