Economy on right track, inflation under control :FM

Pakistan’s economy is showing signs of improvement as inflation begins to decline, according to Finance Minister (FM) Muhammad Aurangzeb. Speaking to traders at the Lahore Chamber of Commerce on Saturday, Aurangzeb credited recent government policy decisions and a reduction in the central bank’s policy rate for helping to stabilize the economy and restore confidence among investors.

He stated that the government remains committed to supporting industries and creating a business-friendly environment, adding that the concerns of the business community must be prioritized. Aurangzeb emphasized that industrial growth is crucial for long-term economic stability, and said the economic team is working on lowering production costs and carrying out structural reforms to increase productivity.

The finance minister also assured that the government is taking active steps to ensure that the benefits of falling inflation reach ordinary citizens. He said prices of essential goods are being closely monitored and warned that middlemen will not be allowed to manipulate the system for profit.

During his address, Aurangzeb announced that 24 state-owned enterprises will be privatized as part of the government’s broader economic reform agenda. He also revealed plans to offer tax relief to salaried individuals, who, he noted, currently shoulder an unfair share of the tax burden.

He further highlighted that barriers to profit repatriation for foreign investors had been removed, which has helped boost investor confidence. Calling minerals and information technology “potential game-changers,” he said Pakistan’s copper reserves could bring major economic benefits, similar to how Singapore earns billions from nickel exports.

Aurangzeb concluded by stating that Prime Minister (PM) Shehbaz Sharif is personally leading the effort to revive the economy and that the people of Pakistan will soon begin to see the positive results of these policies.