Minister of State for Finance Bilal Azhar Kayani has said the upcoming federal budget for 2026–27 will focus on pro-growth policies and export-led economic expansion, as the government intensifies consultations with key stakeholders ahead of its announcement in June.
Speaking during an interactive session at the Karachi Chamber of Commerce and Industry (KCCI) on Saturday, the minister emphasized the government’s commitment to inclusive and consultative policymaking, engaging exporters, traders, and industry leaders in shaping the country’s economic direction.
He thanked prominent business figures, including Javed Bilwani and Zubair Motiwala, along with KCCI leadership for hosting the dialogue, describing Karachi as the “heart of Pakistan’s economic activity.”
Stakeholder Consultations Underway
Kayani noted that the government, under Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb, is actively engaging with business communities nationwide to ensure a “whole-of-economy” approach.
Upcoming consultations are scheduled with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the Overseas Investors Chamber of Commerce and Industry (OICCI), and representatives of small traders.
Economic Stability and IMF Progress
Highlighting recent economic improvements, the minister said Pakistan has achieved macroeconomic stabilisation since February 2024, citing better inflation control, improved tax collection, and enhanced external account stability.
He added that progress under the International Monetary Fund programme has helped strengthen foreign exchange reserves and boost investor confidence.
Shift Toward Export-Led Growth
Acknowledging past challenges, Kayani said Pakistan’s economy has long suffered from boom-and-bust cycles driven by import-led growth. The government now aims to pivot toward:
- Export-driven growth
- Increased productivity
- Stronger industrial competitiveness
He described initiatives like Exporters’ Recognition Awards as part of a broader strategy to encourage sustainable economic development.
Reform Agenda and Energy Pricing
The minister revealed that Prime Minister Shehbaz Sharif has formed nine working groups comprising experts and stakeholders to propose long-term economic reforms and address structural bottlenecks.
On energy pricing, he explained that petroleum prices are linked to global oil markets, with the government occasionally absorbing shocks through targeted subsidies to protect vulnerable segments.
Continued Engagement Promised
Concluding his remarks, Kayani reaffirmed that stakeholder engagement will remain central to economic policymaking. Exporters also submitted proposals for the Finance Bill 2026–27, which the minister assured would be reviewed.
However, he clarified that pre-announcing budget measures is not appropriate before the official presentation.
