KARACHI – Federal Finance Minister Mohammad Aurangzeb on Monday addressed a press conference in Karachi, ex-pressing confidence in Pakistan’s economic trajectory and emphasising the pivotal role of banks in national development. He asserted that the national economy is steadily heading towards stability, a direct result of the government’s prudent economic policies.
Highlighting recent positive indicators, the finance minister noted that the persistent issue of circular debt is actively being decreased. He also proudly pointed out that the Pakistan Stock Exchange (PSX) has soared, crossing the significant 136,000 benchmark, reflecting robust investor confidence. [It’s important to note that the PSX touched 136,140.87 points on July 14, 2025, according to available data.]
Aurangzeb underscored the vital contribution of Overseas Pakistanis to the country’s economic stability, recognizing their remittances and investments as a crucial pillar of support.
In a key announcement regarding tax reforms, the Finance Minister revealed that Prime Minister Shehbaz Sharif is personally overseeing the transformation of the Federal Board of Revenue (FBR). He stated that the FBR has been empowered with enhanced capabilities to counter sales tax fraud, a measure aimed at broadening the tax base and increasing revenue collection. Furthermore, he informed the media that a sim-plified tax form for the salaried class has now been published and is accessible on the FBR website, de-signed to ease the tax filing process.
Addressing concerns of the business community, Finance Minister Aurangzeb reiterated the government’s commitment to fostering a business-friendly environment as a top priority. He also announced that efforts are underway to increase financing for Small and Medium-sized Enterprises (SMEs), recognizing their sig-nificant contribution to the economy and employment generation. This aligns with recent government statements on aiming to boost SME financing to 17% of private sector credit by 2028.
The minister’s remarks paint an optimistic picture of Pakistan’s economic rebound, attributing it to concert-ed government efforts, improved policy implementation, and the resilience of various economic sectors.