PM will soon unveil relief package for construction sector: Aurangzeb

LAHORE: Federal Finance Minister Muhammad Aurangzeb announced on Saturday that Prime Minister Shehbaz Sharif will soon unveil a relief package for the construction sector. Speaking at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Office in Lahore, the minister also revealed that the government is considering reducing tax rates for the property sector and will announce a relief package for the textile industry within the next ten to twelve days.

Addressing the business community, Aurangzeb emphasized the government’s commitment to pursuing an export-led policy and confirmed that the Prime Minister would soon announce relief for the construction sector. He outlined the government’s economic roadmap, stating that with the economy now stabilized, industrialization is essential for achieving sustained economic growth. The Finance Minister further stated that the government would also take meaningful steps for the textile sector within the specified timeframe and that a reduction in tax rates for the property sector was under serious consideration.

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Aurangzeb acknowledged that the government cannot provide employment to a population of 250 million people, noting that job creation is fundamentally the responsibility of the private sector. On economic transparency, he said that the digitalization of the economy would bring greater transparency and help increase revenues.

He pointed out that the salaried class currently bears a disproportionately high tax burden and expressed the government’s intention to provide them with meaningful relief. He also drew a distinction between the real estate sector and the construction sector, noting that the construction industry is deeply interconnected with numerous other sectors, and assured the business community that the government would resolve any challenges they face.

Regarding Pakistan’s broader economic trajectory, Aurangzeb said that the positive effects of the agreement with the International Monetary Fund have begun to materialize, and that international financial institutions are regaining confidence in Pakistan’s economy. He noted that Pakistan had previously been on the brink of default and that the floods of 2022 had dealt a severe blow to the national economy.

However, he stressed that by the time the 2025 floods occurred, the country had built sufficient resources to absorb the damage, which was a clear indicator of the resilience that had been restored.

The Finance Minister highlighted that IT exports represent the future of Pakistan’s economy, currently standing at three to four billion dollars, with the potential to reach eight to ten billion dollars.

He expressed concern that four to five billion dollars in IT export earnings are being retained abroad and called for all export proceeds to be repatriated to Pakistan. Aurangzeb also noted that the State Bank’s foreign exchange reserves are continuing to grow, and that inflation has been brought down to record low levels as a result of government policies.

He recalled that when the current government assumed office, the country had only two weeks of import cover, whereas today it stands at approximately two and a half months of import cover.

He expressed confidence that the difficult times are behind Pakistan, that inflation remains under control, and that the government intends to bring interest rates down to single digits.

The event was attended by FPCCI President Atif Ikram Sheikh, Senior Vice President Saqib Fayyaz Magoon, former caretaker Federal Commerce Minister Dr Gohar Ijaz, UBG Patron-in-Chief SM Tanvir, and Regional Chairman and Vice President Zaki Ijaz, all of whom presented proposals to the Finance Minister regarding economic improvement. Chairpersons of trade associations from all major export sectors also participated in the conference, presenting sector-specific challenges and recommendations for their resolution.

Copyright Business Recorder, 2026