Pakistan’s Finance Minister Muhammad Aurangzeb said the government cannot provide jobs to all 240 million citizens, stressing private sector growth. He highlighted the need for reforms to create business opportunities and boost employment. His remarks came during the Pakistan Economic Growth Conference in Lahore.
Aurangzeb expressed optimism about the country’s economic stability, noting rising foreign exchange reserves and increased activity in the construction sector. He said cement production is up, and related taxes are growing. The minister acknowledged challenges faced by developers and bankers but promised government solutions soon.
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The finance minister emphasized ongoing property tax reforms and an expanding tax net to formalize more sectors. Digitalization of the economy, he said, will improve transparency, reduce leakages, and increase government revenues. He also highlighted that Pakistan’s IT exports earn around $10 million, though much of it leaves via unofficial channels.
Aurangzeb addressed trade and banking challenges with Iran, noting progress but stressing remaining issues for traders. He confirmed discussions with Iran’s finance minister and said Prime Minister Shehbaz Sharif is personally overseeing solutions. He stressed reforms in agriculture and exports to strengthen rice, wheat, and cotton sectors.
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The minister concluded that private sector leadership is essential for economic growth, with government support for structural reforms and foreign exchange stability. He pledged upcoming announcements on property taxes and broader economic incentives.