Islamabad ( Web News )
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reiterated the government’s commitment to supporting the productive sectors of the economy, stating that every sector must play its role in ensuring economic stability and growth. “We cannot place the burden solely on the formal sector and salaried class,” he said.
Speaking during meetings with delegations from the Pakistan Association of Large Steel Producers (PALSP) and the All Pakistan Ceramic Tiles Manufacturers Association, the finance minister said that with the right policy support, Pakistani manufacturing can meet international standards.
The delegation from PALSP was led by its Patron-in-Chief Abbas Akbar Ali. The delegation highlighted key issues facing the steel industry, including high energy costs, regulatory inconsistencies, and the need for a stable policy environment for long-term investments. They also discussed the impact of tax policies on formal businesses and requested government support to ensure a level playing field.
The finance minister acknowledged the concerns and reiterated the government’s commitment to supporting productive sectors. He stated that the steel industry plays a vital role in infrastructure development and employment generation in the country. He assured that their points would be considered in upcoming budgetary meetings and policy discussions.
Minister Aurangzeb emphasized that economic recovery requires a collective effort. “Economic stability and growth demand contribution from every sector. We cannot shift the entire burden onto the formal sector and salaried individuals,” he stated.
He said the government is implementing a comprehensive strategy to expand the tax net, reduce reliance on heavily taxed groups, and bring the undocumented economy into the formal fold. He shared that the Prime Minister himself is regularly chairing meetings to strengthen economic governance and ensure equity across all sectors.
He appreciated the associations’ constructive participation and stressed the importance of continued engagement between the government and industry for effective policy reforms. He assured that the government’s economic policy would be transparent, inclusive, and growth-oriented. The meeting concluded with a mutual consensus to maintain ongoing communication and collaborate on improving industry-related policies.
The delegation from the All Pakistan Ceramic Tiles Manufacturers Association was led by Abdul Rehman Talat, Executive Director of Orient Ceramica. The delegation provided a detailed briefing, stating that Pakistan’s current daily production capacity for ceramic tiles is approximately 560,000 square meters, backed by over Rs 100 billion in investment, about 60% of which is foreign, particularly from China.
They noted that the industry has made significant progress in relying on local resources, reducing import dependency from 74% to just 4%, with nearly all raw materials and labor now sourced locally. The delegation expressed their aim to further reduce this to 1%, calling the ceramic industry a shining example of local industrial capability.
The finance minister appreciated the localization efforts, recognizing the sector’s role in import substitution, employment generation, and contribution to national value chains. Referring to his recent visit to Gujranwala, he noted the use of advanced technology and high-quality local production in ceramic units, stating that industries like ceramics prove that with the right policy support, Pakistani manufacturing can meet global standards.
The discussion also covered energy sector reforms and improving ease of doing business. The finance minister assured that energy sector reforms are a top government priority, with efforts underway for sustainable, affordable, and efficient pricing mechanisms. He said the government is in continuous consultation with stakeholders to simplify regulatory processes, reduce compliance costs, and ensure policy stability.
He stressed that expanding the tax net is essential to promoting financial balance and fairness in the economy. The minister emphasized the government’s commitment to shifting the tax burden toward previously undocumented or under-taxed sectors, instead of solely relying on the formal and salaried sectors. He reiterated that the Prime Minister is personally leading high-level meetings to advance reforms aimed at transparency, documentation, and economic equity.
The association delegation appreciated the government’s inclusive consultation process and expressed their support for government policies aimed at boosting Pakistan’s industrial competitiveness and economic stability.