Pakistan’s economic team has intensified consultations with the business community ahead of the upcoming federal budget, as Minister of State for Finance Bilal Azhar Kayani engaged industry leaders, exporters, and media representatives during an interactive session at the Karachi Chamber of Commerce and Industry (KCCI).
The meeting formed part of the government’s broader effort to align fiscal policy with private-sector priorities and promote a more inclusive approach to economic decision-making before the budget announcement expected in June.
Addressing participants, the minister described Karachi as the country’s primary commercial hub and emphasized that direct engagement with businesses is essential for developing effective economic policies. He said the government, under Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb, is consulting stakeholders nationwide to ensure industry feedback becomes part of the budget formulation process.
Kayani noted that consultations are being conducted across multiple sectors to build consensus on fiscal priorities and strengthen coordination between policymakers and economic stakeholders. Planned engagements include discussions with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the Overseas Investors Chamber of Commerce and Industry (OICCI), and representatives of small traders and business associations.
Highlighting recent economic trends, the minister said Pakistan has achieved gradual macroeconomic stabilisation since early 2024, pointing to easing inflationary pressures, improved revenue collection, and greater external sector stability. Progress under the country’s programme with the International Monetary Fund (IMF), he added, has helped rebuild foreign exchange reserves and restore investor confidence.
He acknowledged that Pakistan’s economy has historically faced repeated boom-and-bust cycles driven by consumption and imports rather than export expansion. According to the minister, the government’s long-term strategy now focuses on export-led growth, productivity enhancement, and stronger industrial competitiveness to ensure sustainable economic progress.
The minister also referred to recent initiatives aimed at encouraging exporters, including recognition programmes designed to promote international trade performance and reinforce exports as a central pillar of national economic policy.
Participants were informed that the prime minister has established nine specialised working groups comprising experts from government and industry to develop structural reform proposals. These groups are expected to recommend measures addressing long-standing bottlenecks affecting investment, manufacturing, and business expansion.
Responding to questions on energy pricing, Kayani said domestic petroleum prices continue to reflect global market movements. He added that the government has passed on international price reductions to consumers where possible while also using targeted subsidies and fiscal adjustments to shield vulnerable groups from price volatility.
The minister further noted that Pakistan has worked to maintain economic stability despite regional geopolitical tensions, crediting coordinated efforts by civilian and military leadership in managing external challenges alongside domestic economic reforms.
At the conclusion of the session, exporters submitted proposals for inclusion in the Finance Bill 2026–27. Kayani assured participants that their recommendations would be reviewed carefully during budget preparations, while reiterating that specific fiscal measures cannot be announced prior to the formal presentation of the federal budget.
He emphasized that continued dialogue with industry and stakeholders will remain a key element of the government’s economic policymaking process going forward.
