Federal Minister for Finance Muhammad Aurangzeb has said that the government is moving toward deregulation in the sugar and wheat sectors, stressing that the complete withdrawal of government involvement from the entire value chain is essential.
He made these remarks while addressing members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The finance minister informed the gathering that the formulation of tax policy has been separated from the Federal Board of Revenue (FBR) and transferred to the Ministry of Finance. He added that the next fiscal year’s budget will be prepared by the Tax Policy Office, not the FBR.
Aurangzeb said this move will address long-standing complaints from the business community regarding policy inconsistencies, and that tax reforms are being implemented in consultation with industry stakeholders.
He emphasized that the government is committed to achieving export-led economic growth, under which every sector must contribute to exports. “Whether it’s 2%, 5%, or 10%, each sector must export to remain competitive,” he said.
The finance minister reiterated the government’s commitment to sustainable development.
Aurangzeb added that the provincial shares in the federal divisible pool will be reviewed in the upcoming National Finance Commission (NFC) meeting.
Speaking about the Reko Diq project, he said operations are expected to begin in 2028, with Pakistan’s first exports from the project valued at around $2.8 billion. He described Reko Diq as a milestone for the national economy.
