Saira Imran Federal Finance Minister Muhammad Aurangzeb said that the government decides to sell 24 state-owned institutions as part of its restructuring plan. He added that the government is merging 39 ministries to reduce the size of the federal cabinet. The government will complete PIA’s privatization before the end of this year.
Speaking at the ninth edition of The Future Summit, Aurangzeb said the private sector plays a key role in driving the economy. He stated that private-led, production-based growth is the only sustainable way forward. Finance minister further said Pakistan’s economy is now on the right path and international agencies have also recognized its macroeconomic stability.
Read Also: FBR Faces Rs 270 Billion Revenue Shortfall
He mentioned that global economies are introducing reforms and focusing on tariff regimes. The government’s role, he said, is to create a supportive ecosystem. For AI-based growth, Pakistan must also build a strong digital system.
Aurangzeb highlighted that Pakistan ranks third among the world’s largest freelancing nations. He said the government aims to make Pakistan a hub for exports. He added that structural reforms are vital for sustainable growth, and digitalization will bring transparency to the economy.
The finance minister also shared that corporate profits have risen by 9%. Google is planning to make Pakistan an export hub, and the government will continue focusing on IT and maritime sectors.
He said several foreign companies now consider Pakistan a promising destination for investment and trade. He emphasized that macroeconomic stability is not the final goal but a means to attract more investment.
Aurangzeb further stated that the privatization process is progressing rapidly. The government has completed the privatization of the First Women Bank, while it continues work on PIA and three electricity companies. He confirmed that the government will complete PIA’s privatization before year-end.
The government is also merging ministries and closing unneeded departments. Around 70% of this task has been completed, and employees are being given packages equal to those in the private sector. Pension reforms are also part of the agenda.
He added that to ensure stable economic growth, Pakistan must address population growth and climate change. Funds are available to deal with climate issues, but they must be used wisely.
In conclusion, the government decides to sell 24 state-owned institutions to strengthen the economy, promote private investment, and ensure long-term stability.
