Federal Finance Minister Muhammad Aurangzeb emphasized the need for Pakistan to transform its economic framework, highlighting key reforms in various sectors. Speaking at the Pakistan Banking Summit 2025 in Karachi, he stated that the State Bank of Pakistan (SBP) is working on regulations for cryptocurrency, urging an open-minded approach.

Aurangzeb confirmed that Pakistan International Airlines (PIA) will be privatized this year and stressed the importance of public-private partnerships to address growing financial losses in state-owned enterprises (SOEs). He revealed that government losses from SOEs have reached Rs1 trillion, making privatization and restructuring essential.

He underscored the need for export-driven economic growth beyond textiles, IT, and agriculture, pointing out that minerals could play a significant role by 2028. Additionally, he stressed the importance of expanding the tax base, as certain sectors contribute significantly to GDP but pay minimal taxes. The government is also working on tax compliance measures to reduce evasion and corruption.

Aurangzeb reiterated Pakistan’s commitment to economic reforms, aiming for sustainable and inclusive growth while addressing external financial vulnerabilities.