Finance Minister Muhammad Aurangzeb said Wednesday that the recent exit of some multinational companies from Pakistan was the result of global corporate strategies rather than domestic economic difficulties, adding that macroeconomic stability continues to attract new foreign investors.
Speaking on Geo News’ Capital Talk, Aurangzeb said that while a few international firms had left Pakistan, several new entrants were investing in the country, particularly in the energy and digital services sectors. “Such decisions are part of global corporate realignments,” he said. “If some companies are leaving, new ones are also arriving.”
The minister acknowledged that foreign investors still face hurdles, including delays in repatriating dividends, but said Pakistan had made progress. “As economic stability has returned, we have cleared $4 billion of backlog in the last two years,” Aurangzeb said.
He warned that climate change continues to weigh on the economy, with increased flooding and smog affecting growth. “Before the recent floods, GDP growth was projected at 4.2%, but at least 0.4 to 0.5 percentage points will now be shaved off due to flood-related damage, 80% of which occurred in Punjab’s agriculture sector, particularly rice and cotton,” he said.
Aurangzeb said the government was financing relief and rescue operations from domestic resources, adding that reconstruction efforts may later require international assistance. He said Prime Minister Shehbaz Sharif had directed Climate Change Minister Musadik Malik to prepare a 300-day plan for climate resilience ahead of an early monsoon season.
On fiscal performance, the finance chief said tax collection from wholesalers and retailers doubled last year, with additional revenue from the sugar, cement, and tobacco sectors. He said income tax relief had been granted to lower- and middle-income salaried classes, with plans to extend it further.
Aurangzeb added that the government is moving toward deregulating wheat and sugar prices, with a comprehensive wheat deregulation policy expected in 2026 that would end inter-provincial movement restrictions.
He said the World Bank had praised Pakistan’s tax reform progress, while Egypt’s finance minister had offered to send a team for knowledge-sharing.
When you are selected and not elected. You need to find justifications for all your wrong doings and things that are out of your control
Finance Minister PLEASE don’t speak lie, you are well aware about all atrocities (LOOTING TAX MONEY) being committed by form 47 govt.
“If some companies are leaving, new ones are also arriving.”
Reply: Only Auto sector is improving, That too is dumping Kit Cars not indeginizing
“we have cleared $4 billion of backlog in the last two years,” Aurangzeb said.”
Reply: Your Govt has borrowed 31.2 Billion in last two years.
“Reconstruction efforts may later require international assistance.”
Reply: Your CM Punjab has denied to take any assistance for climet change or Flood effecties.
On fiscal performance, the finance chief said tax collection from wholesalers and retailers doubled last year,
Reply: Salaried class paid double the tax than industry and retailers.
Told you 😆 🤣 😂
But but but stock market was rising to record high wasn’t it ?
Now what ?
So many vows and 0 actual proof
You do know vows broken are sinful. Meaning you’ve sinned beyond forgiving if you break your vow. And finance minister has broken alot of vows
If you’re muslim that is
“If some companies are leaving, new ones are also arriving.”
Reply: Only Auto sector is improving, That too is dumping Kit Cars not indeginizing
“we have cleared $4 billion of backlog in the last two years,” Aurangzeb said.”
Reply: Your Govt has borrowed 31000+ Billion in last two years.
“Reconstruction efforts may later require international assistance.”
Reply: Your CM Punjab has denied to take any assistance for climet change or Flood effecties.
On fiscal performance, the finance chief said tax collection from wholesalers and retailers doubled last year,
Reply: Salaried class paid double the tax than industry and retailers.
he is telling this for the zillionth time but no one believes him.
Ok but that will not change the ground realities, and ground realities are bleak. One who earned 2 crores a month as HBL President and is then made to sit in a Minister’s chair, he can talk like that.