Pakistan aims to broaden its partnership with the United States across various sectors, says Federal Finance Minister Muhammad Aurangzeb. He noted that new opportunities for economic cooperation between the two countries are emerging.
Speaking at an event in Islamabad, the finance minister stated that he had recently held discussions with the US Commerce Secretary, during which they discussed several matters, including American tariffs. He mentioned that the US has assured a strategic agreement with Pakistan, which will further strengthen bilateral ties in the future.
Muhammad Aurangzeb stated that Pakistan’s export industry is on the path to improvement, and the government is taking effective measures to further develop it. He added that to boost exports, industries are being provided with necessary facilities, and reforms are being introduced in energy, tax network, and state institutions.
Discussing the federal budget, he said that pension expenses in the current budget exceed the development budget. However, the government has increased pensions in line with inflation. The finance minister revealed that a proposal has been made to impose a 5% tax on pensions exceeding 10 million rupees in order to balance the financial burden.
He said that provinces are playing a leading role in government reforms. If any province is progressing through public-private partnerships, the federal government should learn from it. He particularly praised Sindh’s public-private partnership model, calling it a replicable example that other provinces should also benefit from.
The finance minister emphasized that economic reforms, foreign investment, and strategic partnerships are key to Pakistan’s economic recovery, and the government is taking serious steps in all these areas.
