Business Recorder
KARACHI: Minister of State for Finance Bilal Azhar Kayani on Saturday reaffirmed the federal government’s unwavering commitment to achieving sustainable economic stability, pledging continued policy support for exporters as Pakistan pushes toward an export-led growth model backed by strong public-private sector collaboration. Speaking during his visit to the Karachi Chamber of Commerce and Industry (KCCI), State Minister stressed that the private sector would occupy a central and leading role in the country’s economic vision, with exporters set to receive uninterrupted policy backing to sharpen Pakistan’s global competitiveness. Describing Karachi as the backbone of Pakistan’s economy, Kayani praised the megacity’s indispensable contribution to industrial output, trade volumes, and national revenue, adding that his repeated visits to the megacity were a direct reflection of the government’s resolve to maintain meaningful engagement with the business community and ensure that economic policies remain firmly grounded in the realities of trade and industry. “The purpose of this visit is to identify and address key impediments to economic activity while facilitating a more enabling and business-friendly environment.” Providing a broader economic backdrop, he acknowledged Pakistan’s historical tendency to experience cycles of growth offset by mounting pressure on foreign exchange reserves, a pattern he said the government is now determined to break. He further said that since February 2024, the administration has remained laser-focused on macroeconomic stabilization, with inflation easing and foreign exchange reserves improving as a result of timely and coordinated policy measures. “We are committed to breaking this cycle by promoting sustainable growth anchored in exports and private sector investment,” Kayani said. He also outlined several significant reforms introduced under the Prime Minister’s leadership. Among the most notable is the transfer of management of the Export Development Fund directly to exporters, a move aimed at boosting transparency, efficiency, and industry ownership over export promotion resources. He further highlighted the strengthening of private sector representation within key institutions such as SMEDA, ensuring that policymaking draws on practical, on-the-ground business insights. Kayani pointed to Roshan Digital Accounts as a flagship success story, crediting the initiative with building strong confidence among overseas Pakistanis and generating substantial foreign investment inflows. He reaffirmed the government’s commitment to further developing such channels to sustain and grow foreign exchange earnings. He said that Pakistan has regained access to the international Eurobond market and added that amendments in the Section 37A of FBR laws in the previous budget have curtailed certain discretionary powers previously held by tax officials. He said that the authority of FBR officers to arrest traders has been substantially reduced, offering much-needed relief to the business community and improving the overall ease of doing business. He said petroleum prices are under regular review and aligned with global market trends, adding that the petroleum levy on diesel currently stands at zero, while petrol carries a levy of Rs 80. “Any further decline in international oil prices would be passed on directly to consumers,” he maintained. Copyright Business Recorder, 2026
Go to News Site