Federal Finance Minister Senator Muhammad Aurangzeb said on Saturday that Pakistan’s Information Technology (IT) and mineral sectors have transformative potential for the national economy.

He emphasized that these sectors would be gaming shutters in the coming years and added that the country’s financial direction led by Prime Minister Shahbaz Sharif will soon become clearer, with positive results expected.

The Minister of Finance approached business at the Lahore Chamber of Commerce and Industry (LCCI) and highlighted the government’s obligation to listen to and solve the challenges of the private sector.

“We are here to serve the people. I visit chambers to listen, understand and solve business in business. The legitimate demands of the chambers will be accepted,” he said.

Aurangzeb cited Singapore’s success with nickel exports – when he reached USD 22 billion – and drew parallels with Pakistan’s copper reserves, emphasizing the enormous potential of the mineral sector. He also noticed increasing global interest in Pakistan’s IT and minerals and repeated the government’s decision to eliminate barriers to local and foreign investors.

About financial stability, the Minister of Finance pointed to improved macroeconomic indicators and said:
“Lowering inflation is important for financial stability. Interest rate was 22 percent, today it is 12 percent.”

He emphasized the importance of reducing financing costs, power -stricken and implementing improved tax policies to spur industrial growth.

Aurangzeb also said that restrictions on surplus review for foreign investors had been abolished, restoring the investor’s confidence.
“We ensure that the benefits of reduced inflation directly when the ordinary man. Middle midwife is not allowed to exploit the system,” he promised.

The Minister related to tax challenges recognized the minister’s burden of the employeeed class:
“Income tax is deducted from the source and we intend to offer relief to the paid segment.”
He revealed that 24 national units were earmarked for privatization and urged to minimize human interaction in the system to reduce inefficiency.

“If we can increase the tax-to-BNP ratio to 13 percent, we can offer wider relief to different sectors,” he said, noting that lowering of edible prices had limited options for intermediaries to exploit the system.

During the Q&A session, Aurangzeb confirmed that visa-related questions were regularly discussed at meetings during the prime minister’s foreign visit and was dealt with on a priority basis.

He confirmed the government’s obligation to engage in the private sector:
“The private sector plays a key role in running any country. A committee has been set up according to the Prime Minister’s direction, working on GSP Plus.”

LCCI President Mian Abuzar Shad shadowed the government’s steps toward financial resuscitation.
“We value the reduction in the policy rate from 22 percent in June 2023 to 12 percent now. This will facilitate access to capital for businesses,” he said, adding that inflation had fallen from 20.7 percent in March 2024 to only 0.7 percent in March 2025.

He also praised the launch of the “Uraan Pakistan” program, which aimed to increase exports to $ 60 billion, attracting USD 10 billion in annual private investment, creating a million jobs a year and tackling climate and energy goals. He highlighted Special Investment Facilitation Councils (SIFC) role in improving the investor’s confidence.

LCCI Senior Vice President Engineer Khalid Usman recommended to increase the turnover limit for detention agents from Rs. 100 million to Rs. 250 million. He expressed concern about the FBR’s freezing point of bank accounts in the light of the pending litigation on capital value tax (CVT) under the Amnesty scheme and called practice unjustified.

Vice President Shahid Nazir Chaudhry called for long-term financial planning, which suggested a consistent 10-year political timetable. He suggested tax deductions on R&D expenses from private companies to promote innovation and technological development.

Saarc Chambers Vice President Mian Anjum Nisar repeated the need for innovation -driven economic growth.

The session participated by representatives of the Federal Board of Revenue (FBR), business leaders and members of different chambers.