LAHORE: Finance Minister Muhammad Aurangzeb said that he met with representatives of Faisalabad Chamber of Commerce and industry (FPCCI) yesterday, and will be going to Peshawar next week for discussions on the annual budget. He said that the process of FY2025-2026 year’s budget has already begun and the government has started the consultation process with the business community.
The finance minister was speaking to media in Lahore, on the event of marathon organised by Special Olympics Pakistan. This event is being held in Lahore for the first time, having previously taken place in Karachi. Aurangzeb said, “Our young boys and girls must participate in it as much as possible. We need to work for differently-abled people”.
Economy is moving towards improvement, insists Muhammad Aurangzeb
The finance minister spoke at length about the goals of economic stability, saying that inflation is decreasing and the stock market is also doing well. “Our foundation has been laid, we have to move forward in a sustainable manner on it,” he said, adding that all sectors of the economy will have to contribute for the next year’s budget.
“All segments will have to contribute in their own way. Real estate people will also have to come forward. You will also see work in this regard in this budget,” the minister said.
“Speculation will neither be allowed nor be supported. We will work on what will actually be construction. Our real focus is on construction work,” he added.
Aurangzeb said that he recently went to Saudi Arabia and Dubai and was also in Washington earlier, adding that he did not see any anger towards Pakistan anywhere.
The country has achieved economic stability and is moving towards improvement, Finance Minister Aurangzeb said, adding, “Work is also underway on Federal Board of Revenue (FBR) reforms.” He added, “Economic indicators are correct and the currency is stable.”
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The minister acknowledged that the manufacturing industry and the salaried class have been burdened, but reiterated that all sectors will have to play a role towards country’s development. “Hopefully, remittances will be close to $35 billion this year,” the finance minister said.
He concluded with wishes for the national cricket team for today’s Champions Trophy match, saying “Pakistan team should play openly and firmly against India.”