Islamabad, May 13, 2025 – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has reaffirmed the government’s firm commitment to dismantling the long-standing protectionist economic regime and leveling the playing field for all sectors of the economy.
Speaking during a high-level consultative meeting with leading exporters and business leaders—led by Shabbir Diwan, former Chairman of the Pakistan Business Council (PBC)—Aurangzeb emphasized that a shift toward market-based competitiveness is essential for sustainable economic growth. “The era of excessive protection is over. Prime Minister Shehbaz Sharif is personally steering this transformation, and we are determined to ensure fair and open economic opportunities,” he said.
Aurangzeb stressed that Pakistan’s future lies in export-led growth and not in protectionism that benefits a few at the cost of national progress. “Every sector must become part of this change. If we are to avoid returning for a 25th IMF program, we need a decisive break from past practices and a shift toward productivity and outward-focused policies,” he added.
The finance minister acknowledged key structural hurdles facing the business community, including high financing costs, elevated energy prices, and a cumbersome tax structure. He affirmed the government’s intention to address these issues in the upcoming federal budget, which he described as a “strategic roadmap” for aligning fiscal priorities with long-term economic sustainability.
During the meeting, Aurangzeb highlighted the government’s Tariff Rationalisation Program, aimed at eliminating distortions and inconsistencies that impede business efficiency. He welcomed private sector feedback and assured participants that their inputs would be carefully incorporated into policy reforms.
Shabbir Diwan commended the government’s inclusive approach and stressed the need for consistent and predictable policies to foster investor confidence and industrial growth.
Aurangzeb reiterated that stakeholder collaboration is crucial to laying down a resilient and globally integrated economic foundation. “We are not just preparing a budget—we are crafting a vision for Pakistan’s economic future,” he said.
This marked the fifth key interaction this month where Aurangzeb engaged directly with the private sector to reinforce the government’s reform agenda and ensure policies reflect ground realities.