Karachi: Federal Finance Minister Muhammad Aurangzeb has said that the government is accelerating the privatization process, while 28 more state institutions have been allocated to the Privatization Commission.
Addressing the inaugural ceremony of the Pakistan Banking Summit 2026 organized by the Pakistan Banks Association, the Finance Minister said that due to the growth of major industries, the GDP growth rate in the last fiscal year was 3.7 percent, while the current account also remained stable due to remittances.
He said that the volume of remittances during the fiscal year 2025-26 is estimated to be $41 to $42 billion, while value-added exports also played an important role in economic stability.
Foreign exchange reserves have reached $18.4 billion and Pakistan has regained access to global capital markets including Eurobonds, in which Panda Bonds have been of special importance.
Muhammad Aurangzeb said that 11 initial public offerings (IPOs) were introduced on the Pakistan Stock Exchange last fiscal year and young investors, especially Gen Z, are actively participating in the stock market. Instead of seeking international assistance, the government used its own resources to deal with the 2025 floods.
The Finance Minister said that the super tax imposed on businesses worth less than Rs 500 million has been abolished in the federal budget to promote small businesses, relief has also been provided to the construction sector, while all duties on agricultural machinery have been abolished.
He said that the government is including the retail sector in the tax system to expand the tax net and human intervention in the tax collection system is being reduced through the use of modern technology. The government is not in favor of a final tax regime but wants to introduce a simple and effective system in which every citizen pays taxes according to his ability.
Muhammad Aurangzeb said that monthly investment in Roshan Digital Accounts has increased from $180 million to $300 million in the last three months, while providing better access to financial resources to small and medium-sized enterprises (SMEs) is among the government’s priorities.
He said that NOCs have been issued to exchange companies in December 2025 for progress in the fields of artificial intelligence, blockchain and virtual assets, while commercial banks need to further strengthen their cybersecurity systems.
Talking to the media, the Finance Minister said that after the tensions between Iran and the US, trade deals with Iran are in the initial stage, however, the government hopes that there will be significant progress in trade between the two countries. He said that promoting economic ties with brotherly Islamic countries is a key priority of the government, while the consultation process regarding the NFC award is also underway.
