Federal Minister for Finance Muhammad Aurangzeb has announced that the government will privatise 24 state-owned enterprises (SOEs), including Pakistan International Airlines (PIA), with the process expected to be completed before the end of this year.
Speaking at the Future Summit in Karachi, Aurangzeb said privatisation in Pakistan is vital to strengthen the economy and reduce the financial burden on the government. He added that the private sector must play a greater role in national growth as the country moves toward production-led economic stability.
The finance minister said corporate profits have increased by 9%, reflecting improved business confidence. He added that international credit agencies have recognised Pakistan’s macroeconomic progress and that structural reforms are helping stabilise key sectors.
Aurangzeb shared that Google plans to develop Pakistan as an export hub, while the government is prioritising the IT and maritime sectors to promote sustainable growth. “Pakistan’s future lies in export-oriented industries and structural reforms,” he said.
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He also highlighted the government’s efforts to expand the tax base, bringing in 900,000 new taxpayers, and said Egypt has shown interest in studying Pakistan’s FBR reforms.
According to Aurangzeb, digitalisation and transparency will remain key priorities for fiscal reform, and the government aims to leverage innovation and emerging technologies for long-term economic growth.
