On Saturday, the Federal Finance Minister, Senator Muhammad Aurangzeb, addressed the business community at the Lahore Chamber of Commerce and Industry (LCCI) in a press conference.
He discussed the crucial role of Information Technology and the mineral sectors in transforming Pakistan’s economy. Prime Minister Shahbaz Sharif actively led economic reforms, and Aurangzeb assured the nation that they would see positive results soon.
LCCI President Mian Abuzar Shad hosted the meeting. Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, and SAARC Chamber’s Vice President Mian Anjum Nisar, along with the FBR and other members, also attended.
Executive Committee Members participated actively and shared their concerns with the Finance Minister. Representatives from the Federal Board of Revenue and other chambers also joined the discussion.
The Finance Minister cited Singapore’s success story with nickel exports worth $22 billion. He highlighted Pakistan’s similar potential in copper exports. Aurangzeb noted that global investors were growing interested in Pakistan’s mineral sector and IT capabilities.
“The government continues to actively work to remove obstacles and create favorable conditions for local and foreign investments in these sectors”, said Aurangzeb. “We serve the people first,” he also declared.
He explained that his chamber visits aimed to understand and solve the business community’s problems, assuring that the government accepted all legitimate demands from the chambers.
The Minister added that economic stability was the top priority. He questioned how progress could be made when domestic investors faced payment delays and added that controlling inflation remains essential for stability.
He informed that the interest rate dropped from 22% to 12%, showing positive movement. Aurangzeb believed industrial growth required multiple reforms. He insisted that financing costs must decrease.
“Power tariffs need reduction, while taxation policies require improvement. Under Prime Minister Shehbaz Sharif’s leadership, the country follows clear economic goals”, the Minister stated.
He expressed confidence that these measures will soon show tangible results for Pakistan’s economy. The business community listened attentively and welcomed these assurances. The meeting concluded with renewed hope for economic recovery.