This, minerals may be Pakistan’s “Moment of Singapore”, says Aurangzeb

• Finmin says that interest rates, lower inflation in economic fuel recovery.
• It says that global interest in Pakistan’s minerals and IT sectors are increasing.
• “If we cannot return the country’s investors in time, we cannot proceed.”

Lahore: Finance Minister Muhammad Aurangzeb said on Saturday that the IT and mineral sectors would be games for Pakistan’s economy, with Prime Minister Shehbaz Sharif leading efforts to deliver results shortly by references to parallels.

He was talking to the business community at the Lahore Chamber of Commerce and Industry (LCCI).

The finance minister said that only Nickel had become an important export driver for Singapore with a stock of $ 22 billion in exports, stating that copper was able to deliver similar dividends for Pakistan.

He added that the global interest in the minerals and sectors of Pakistan has increased, with the government focusing on abolishing all barriers to attract and facilitate both local and foreign investment.

“We are here to serve people. I visit the chambers to hear, understand and solve the problems of the business community and the legal demands of the chambers will be accepted.”

“It is important not to be able to return to our country’s investors in time, we cannot proceed. Reduction of inflation is essential for financial stability.

The finance tsar processed that industrial growth was only possible if funding costs and power invoices were reduced and improved tax policies were implemented.

Under Prime Minister Shehbaz Sharif’s leadership, he said that the country’s financial direction had clear goals and the positive results would be soon obvious.

The finance minister said the obstacles to gain repatriation for foreign investors had been addressed, which had reinforced their confidence in the Pakistani market.

“We ensure that the benefits of reduced inflation arrive directly to the common man.

While talking about taxation, he acknowledged that the salaried class bears the tax burden, as income tax was deducted at the source and said: “We intend to provide salary relief.”

He discovered that 24 national entities were intended for privatization, stressing the need for reduced human interaction for resolving systemic issues.

“If we can increase the tax ratio to GDP to 13%, we can provide broader relief in various areas,” he noted. If policies had no impact on the common man, then it made no sense, he said, saying that edible prices were reduced and now the intermediary could not continue to benefit.

During the meeting and answer meeting, he stated that the issue of the visa was discussed every time the prime minister visited abroad, arguing that this was resolved on the basis of priority.

Aurangzeb also said that the government would continue to consult the private sector, which has played a key role in the operation of any country. According to the Prime Minister, he said that a committee working on the GSP Plus had formed.

LCCI President Mian Abuzar Shad, Senior Vice President Khalid USMan, Vice President Shahid Nazir Chaudhry, Vice President of the Saarc Chamber Mian Anjum Nisar and members of the Executive Committee also shared their problems and their proposals with the Minister of Finance. Representatives of the Federal Revenue Council (FBR) and other chambers were also present.

LCCI president Mian Abuzar Shad appreciated government initiatives for the country’s financial revival.

The government’s efforts to reduce inflation and reduce the policy rate, SHAD said that the reduction in the policy rate from 22% in June 2023 to 12% was now commendable.

“This will facilitate access to business funds. With inflation being reduced abruptly from 20.7% in March 2024 to just 0.7% in March 2025, we hope that the improvement continues.”

The LCCI president also praised the “Uraan Pakistan” program, led by the prime minister, with the aim of boosting growth, increasing exports to $ 60 billion, attracting $ 10 billion to annual private investment, creating a million jobs and up to 10%of climate challenges.

He emphasized the need for duty reforms to promote industrial development and recommended the adoption of a pricing model to ensure that the raw materials were slightly taxed, encouraging local production and adding value.

LCCI’s senior vice -president, Khalid USman, underlined the need to revise the turnover threshold for deducts, proposing an increase from RS100 million to RS250 million in the light of the abrupt depreciation of the currency and the prevailing economic conditions.

Vice President Shahid Nazir Chaudhry underlined the importance of the long -term planning of economic policy, suggesting that basic economic strategies should be framed within a consistent 10 -year roadmap to ensure stability and sustainable development.