Minister of State for Finance, Bilal Azhar Kayani, held an extensive interactive session with members of the business community, exporters, and media at the Karachi Chamber of Commerce and Industry (KCCI) today, reaffirming the government's commitment to inclusive, consultative, and growth-oriented economic policymaking ahead of the upcoming federal budget expected in June.
The Minister expressed gratitude for the invitation and thanked prominent business leaders Javed Bilwani and Zubair Motiwala, along with the Chamber leadership, for facilitating the engagement. He noted that Karachi remains the "heart of Pakistan's business and economic activity," and emphasized that such consultations are central to shaping national fiscal priorities.
The Minister stated that the government, under the leadership of Prime Minister Shehbaz Sharif, along with Finance Minister Muhammad Aurangzeb, is actively engaging stakeholders across the country. He said the purpose of these engagements is to incorporate feedback from exporters, traders, and industry representatives into budget formulation. He added that these consultations are being conducted on the direct instructions of the Prime Minister to ensure a "whole-of-economy" approach to policymaking.
As part of this outreach program, the Minister confirmed planned meetings with the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), the Overseas Investors Chamber of Commerce and Industry (OICCI), and representatives of small traders and business associations.
The Minister highlighted that since February 2024, Pakistan has witnessed measurable macroeconomic stabilization. He noted improvements in inflation control, tax collection performance, and external account stability. He stated that Pakistan has successfully navigated key stages of its programme with the International Monetary Fund, with two major review levels cleared, contributing to improved foreign exchange reserves and overall economic confidence.
He also acknowledged past structural challenges, particularly cyclical "boom-and-bust" patterns driven by import-led growth without sufficient export expansion. The Minister stressed that breaking this recurring cycle remains a top priority of the government. He emphasized that sustainable economic expansion must be driven by exports, productivity, and industrial competitiveness.
He referenced recent government initiatives such as the "Exporters' Recognition Awards," where top exporters were acknowledged, describing it as part of a broader strategy to prioritize export growth as a national economic pillar. He further reiterated that the government's focus is on sustainable and inclusive growth, ensuring that economic benefits are distributed across all segments of society.
The Minister informed participants that the Prime Minister has constituted nine working groups comprising experts and stakeholders from different sectors to develop targeted policy recommendations for long-term economic growth. He said these groups are aimed at improving coordination between government and industry and addressing structural bottlenecks in key sectors of the economy.
Addressing energy pricing, the Minister explained that petroleum prices in Pakistan are reviewed in line with global oil market trends. He noted that when international prices declined, the government ensured that reductions were passed on to consumers. He added that at various stages, the government also absorbed part of the burden through fiscal adjustments and targeted subsidies, particularly for vulnerable segments of society.
The Minister also referred to Pakistan's broader foreign policy role in regional stability efforts. He acknowledged the contributions of both the civilian leadership and the military leadership in supporting peace and stability in the region. He stated that the government has simultaneously managed the economic spillovers of regional tensions while maintaining focus on domestic economic stabilization.
Concluding his remarks, the Minister expressed appreciation for the role of the media and added that ongoing engagement with stakeholders will remain a central feature of economic policymaking going forward.
Following the Minister's address, exporters presented a set of proposals, for consideration in the upcoming Finance Bill 2026-2027. The Minister, in response, assured the exporters that their proposals would be given full consideration in the budget formulation process. He emphasized that it would not be appropriate to pre-announce budgetary measures before formal presentation, but reiterated that the purpose of the engagement was precisely to hear such concerns and incorporate them into policymaking.forts.
