Finance Minister Muhammad Aurangzeb on Wednesday expressed confidence that inflationary pressures will remain under control, aided by lower oil prices, while outlining the government’s rescue, relief, and infrastructure rehabilitation efforts in response to the ongoing floods.
The development came during Aurangzeb’s meeting with a delegation of the Pakistan Business Council (PBC), led by Chief Executive Officer Javed Kureishi and Chairperson Dr Zeelaf Munir at the Finance Division.
Welcoming the delegation, the finance minister briefed the PBC leadership on the current state of the economy, noting that macroeconomic indicators are moving in the right direction, read the statement.
During the meeting, Aurangzeb touched upon the ongoing flood situation, outlining the government’s efforts in rescue and relief, infrastructure rehabilitation, and need-based assessments while drawing on lessons learned from the 2020 floods.
On the inflation front, the minister expressed confidence that price pressures will remain under control, supported by reduced oil prices that are keeping imported inflation in check.
He noted that the government is closely monitoring developments and that the Steering Committee on Inflation, constituted by the prime minister, has already held its first meeting under his chairmanship, with the second meeting scheduled later this week.
The finance minister underlined that the government’s reform agenda—including State-Owned Enterprise (SOEs) reforms, the privatisation program, and efforts to right-size the public sector—is progressing well, laying the foundation for long-term stability.
He added that the government fully recognises the importance of upgrading port, road, and rail infrastructure to further support domestic commerce and expand external trade opportunities.
Sharing recent developments, Aurangzeb informed the delegation about the tariff negotiations with the United States, which present significant opportunities for Pakistani exporters due to emerging regional competitive advantages.
He encouraged PBC and similar representative bodies to take the lead in initiating targeted business-to-business engagements for enhancing bilateral trade and investment.
The minister also highlighted the outcomes of the prime minister’s recent visit to China, which included high-level strategic dialogues, robust business-to-business interactions, the formation of specialised working groups, and an unprecedented level of private sector representation.
He noted that these engagements have already resulted in substantial traction and the signing of multiple MoUs, reflecting the government’s strong commitment to advancing bilateral economic ties.
Aurangzeb further shared the government’s decision to relocate the Tax Policy Office from the Federal Board of Revenue (FBR) to the Finance Division, ensuring that all tax policy matters are aligned with broader economic policymaking.
The PBC delegation reciprocated the finance minister’s sentiments, appreciating the government’s economic direction and policy measures. They assured full support to the government in policy research and formulation, and reaffirmed their commitment to continued dialogue and constructive consultation.
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