Banking Sector Strengthens Economy, Says Finance Minister

Pakistan’s Finance Minister, Mohammad Aurangzeb, has reaffirmed the government’s commitment to restarting the privatization of the national airline. Speaking at the Pakistan Banking Summit 2025 in Karachi, he emphasized the banking sector’s vital role in the country’s economic growth and financial stability.

Banking Sector’s Growing Influence

During his address, Minister Aurangzeb highlighted how the banking industry has surpassed the oil and gas sector in tax contributions. He revealed that banks have collectively deposited PKR 30 billion into the national treasury, solidifying their role as key players in Pakistan’s financial landscape.

National Airline Privatization Back on Track

The minister confirmed that the government is taking renewed steps to privatize the national airline, calling it a crucial move to improve financial management and operational efficiency. He stressed the importance of restructuring state-owned enterprises to drive sustainable economic growth and reduce the financial burden on the government.

Economic Stability and Policy Reforms

Aurangzeb assured that Pakistan’s economy has stabilized, with strategic policies in place to prevent market speculation, particularly in the real estate sector. He emphasized that ensuring fair market practices and eliminating speculative trading are top priorities.

Revamping Tax Collection and Financial Policy

He also announced significant tax reforms, stating that the Federal Board of Revenue (FBR) will focus solely on tax collection, while the Ministry of Finance will oversee policy development. This separation aims to enhance transparency and efficiency in the country’s financial system.

Conclusion

With an emphasis on economic reforms, financial stability, and a renewed privatization strategy, the government is steering Pakistan towards a stronger financial future. The coming months will be crucial in determining the success of these initiatives, particularly the national airline’s privatization.