Finance Minister Muhammad Aurangzeb in an interview at the World Bank Spring Meetings 2026 with China Global Television Network’s program “The Heat”. PHOTO: SCREENGRAB
ISLAMABAD:
Finance Minister Muhammad Aurangzeb has warned that even if an immediate ceasefire is achieved in the Gulf region, the economic consequences for Pakistan could last up to a year.
Addressing a Senate meeting chaired by Speaker Syed Yousaf Raza Gilani on Wednesday, the minister said the government is making efforts to protect vulnerable sections of the society through targeted subsidies despite fiscal constraints.
He noted that the petroleum tax was linked to commitments entered into with the International Monetary Fund (IMF), adding that adjustments were made to balance the burden.
Responding to a call for attention, Aurangzeb informed the House that over Rs 5.4 billion had already been provided. in subsidies, benefiting approximately 800,000 motorcycle users through subsidized gasoline for three months.
Additionally, Rs 4.6 billion had been extended to farmers to offset rising fuel costs. “Our aim has been to prevent an increase in transport fares and reduce the pressure on the common man,” he said.
He highlighted improvements in revenue collection and stated that FBR revenues had increased from Rs7.5 trillion to an expected Rs13.5 trillion by the end of the current fiscal year.
The session also witnessed strong criticism from the opposition benches regarding the political situation in the country, especially in GB and AJK.
Leader of the Opposition in the Senate, Senator Allama Raja Nasir Abbas, rejected the results of the recent UK election, alleging large-scale fraud and manipulation. He said delays in the publication of results and selective dissemination of results had undermined public confidence in the electoral process.
“If the public mandate is stolen, the whole system loses legitimacy and becomes unable to deal with crises,” he said, adding that growing political disenfranchisement could have long-term consequences.
The opposition leader also criticized the handling of protests in Azad Kashmir and urged the government to adopt dialogue instead of force. He warned that using coercive measures against citizens could deepen divisions and weaken democratic institutions.
Reacting to the criticism, the prime minister’s adviser on political affairs, Senator Rana Sanaullah, rejected allegations of electoral fraud and claimed that the GB polls were conducted peacefully and transparently.
NA session
The National Assembly held a wide-ranging debate on Wednesday on issues including Pakistani prisoners abroad, rising HIV cases, the recent GB elections and the situation in AJK, where the opposition pressed the government on electoral transparency and political freedoms.
Opposition Leader Mahmood Khan Achakzai criticized the government over the prevailing situation including the developments in Balochistan, Kashmir and restrictions on meetings with the PTI founder. He accused the government of restricting political freedoms and called for a more inclusive approach.
Law Minister Azam Nazeer Tarar rejected the opposition’s claims and stated that the government was open to consultation on the appointment of the Chief Election Commissioner. He also rejected claims of rigging in Britain’s polls and urged the opposition to engage in dialogue with the Prime Minister to address concerns.
