Bilal Kayani Reaffirms Govt’s Resolve for Economic Stability, Private Sector–Led Export Growth

KARACHI: Minister of State for Finance Bilal Azhar Kayani has reiterated the government’s firm commitment to achieving sustainable economic stability and accelerating export-led growth through strong public–private sector collaboration.

Speaking during his visit to the Karachi Chamber of Commerce & Industry on Saturday, the State
Minister emphasized that the government is pursuing a policy framework aimed at ensuring inclusive and durable economic growth, with the private sector playing a central and leading role. He assured that exporters, in particular, would continue to receive full policy support to enhance Pakistan’s export performance and global competitiveness.

The meeting was attended by Chairman Businessmen Group Zubair Motiwala, Vice Chairmen BMG Jawed Bilwani and Tariq Yousuf, President KCCI Muhammad Rehan Hanif, Senior Vice President Muhammad Raza, Vice President Arif Lakhani, members of the Executive Committee, and prominent
exporters.

Bilal Azhar Kayani underscored that his continued visits to Karachi reflect the government’s commitment to sustained engagement with the business community. He noted that such interactions are vital for understanding ground realities and ensuring that policy measures remain aligned with the needs of trade and industry. He described Karachi as the backbone of Pakistan’s economy, highlighting its critical contribution to industrial output, trade volumes, and national revenue.

He further stated that the purpose of his visit was to identify and address key impediments to economic activity, while facilitating a more enabling and business-friendly environment.

Highlighting recent economic progress, the Minister noted that since February 2024, the government has remained focused on macroeconomic stabilization. He pointed out that inflationary pressures have eased and foreign exchange reserves have improved as a result of timely, prudent, and coordinated policy interventions.

Providing broader context, he observed that Pakistan’s economy has historically faced cycles of growth accompanied by external imbalances, where increases in GDP were often offset by pressure on foreign exchange reserves. He stressed that the government is now committed to breaking this cycle by promoting sustainable growth anchored in exports and private sector investment.

He also outlined key reforms introduced under the Prime Minister’s leadership, including the transfer
of management of the Export Development Fund to exporters, aimed at improving transparency,
efficiency, and industry ownership.

Bilal Azhar Kayani further shared that structured engagement with the business community has been institutionalized through regular meetings with presidents of chambers of commerce. He added that even during challenging periods, including times of regional uncertainty, the government’s economic team has taken balanced and prudent decisions to safeguard economic stability.

Reiterating the government’s consultative approach, he assured participants that stakeholder feedback would continue to play a central role in shaping economic policies.

Referring to financial sector initiatives, he described Roshan Digital Accounts as a flagship success, which has garnered strong confidence from overseas Pakistanis and facilitated significant inflows of foreign investment. He emphasized that the government remains committed to further strengthening such channels to attract and sustain foreign exchange inflows.

He also noted that private sector representation has been enhanced in key institutions such as SMEDA to ensure that policymaking is informed by practical business insights.

On the energy front, the Minister stated that petroleum prices are being reviewed on a regular basis, with any adjustments being aligned with global market trends. He noted that petroleum levies are being rationalized, with the levy on diesel currently at zero while petrol carries a levy of Rs. 80, adding that any further decline in international oil prices would be passed on to consumers.

He further highlighted that Pakistan has regained access to the international Eurobond market after a hiatus of four years, reflecting renewed investor confidence in the country’s economic direction.

Addressing regulatory reforms, he pointed out that amendments introduced in the previous budget to Section 37A of FBR laws have curtailed certain discretionary powers. He added that the authority of FBR officials to arrest traders has also been significantly reduced, providing much-needed relief and improving the ease of doing business.

Concluding his remarks, the Minister stated that he would refrain from commenting on the upcoming federal budget at this stage, noting that detailed announcements would be made at the appropriate time.

The meeting concluded with an interactive session, during which exporters highlighted key challenges and offered practical suggestions for further improving the business climate and export ecosystem.