Lahore, April 12, 2025 – Federal Finance Minister Senator Muhammad Aurangzeb declared Pakistan’s Information Technology (IT) and mineral sectors as pivotal drivers for economic growth during a vibrant session at the Lahore Chamber of Commerce and Industry (LCCI). Addressing business leaders, he emphasized that these sectors could redefine Pakistan’s economic landscape under Prime Minister Shahbaz Sharif’s leadership.
Aurangzeb highlighted the untapped potential of Pakistan’s mineral reserves, drawing inspiration from Singapore’s USD 22 billion nickel export market. “Our copper reserves hold similar promise,” he noted, signaling growing global interest in Pakistan’s resources. The IT sector, he added, is attracting international attention, with the government committed to removing investor hurdles.
On economic progress, the minister cited a sharp decline in inflation—from 20.7% in March 2024 to 0.7% in March 2025—and a policy rate reduction from 22% to 12%. “Lower inflation and cheaper financing will fuel industrial growth,” he said, promising relief for the salaried class through revised taxation policies. Restrictions on profit repatriation for foreign investors have also been lifted, boosting confidence.
The government’s privatization push includes 24 national entities, aimed at streamlining operations and reducing inefficiencies. Aurangzeb stressed increasing the tax-to-GDP ratio to 13% to provide sector-wide relief and curb exploitation by middlemen, ensuring benefits reach ordinary citizens.
LCCI President Mian Abuzar Shad praised initiatives like “Uraan Pakistan,” targeting USD 60 billion in exports and one million annual jobs. He lauded the Special Investment Facilitation Council (SIFC) for fostering investor trust. However, concerns were raised about FBR’s account freezes amid pending tax disputes, with calls for fairer practices.
Business leaders, including SAARC Chamber’s Mian Anjum Nisar, urged innovation-focused policies and a 10-year economic roadmap. Aurangzeb strengthens government-private sector ties, fostering collaboration for economic growth and shared prosperity in a dynamic, inclusive partnership.
