Finance Minister urges businesses to adapt to evolving global economic landscape

ISLAMABAD, Nov 4 (APP):Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday stressed the need for businesses to adapt their models to the changing dynamics of the global economy, saying the evolving economic landscape demanded greater flexibility and responsiveness to emerging opportunities and challenges.

The minister was talking to a delegation of Pakistan Textile Exporters Association (PTEA) that met him here. According to finance ministry press release, the delegation was led by Chairman PTEA, Rehan Naseem Bharara.

The minister highlighted the importance of the export sector in supporting sustainable economic growth. He encouraged greater focus on innovation, productivity, technology adoption and value addition to remain competitive and respond to changing international market dynamics.

The discussion also covered the business environment for exporters, including energy costs, access to finance and the importance of facilitating business activity. The Finance Minister highlighted the government’s focus on strengthening the enabling environment for the private sector and underscored the importance of continued engagement with industry to support export growth.

Aurangzeb also emphasised the importance of improving access to finance for businesses, particularly small and medium enterprises, and strengthening their role in the export value chain.

He noted that supporting a broader base of businesses would contribute to greater participation in export activity and strengthen the sector.

Members of the delegation also shared their perspectives on the evolving global trade environment and the importance of strengthening the competitiveness of Pakistan’s export industry.

They highlighted the importance of an enabling business environment, improved access to finance and continued facilitation of the export sector. The delegation also underscored the value of close coordination between the government and industry in supporting businesses, promoting growth and enabling the sector to respond to emerging opportunities.

The minister reaffirmed the government’s commitment to export-led growth and emphasised that close collaboration between the government and the private sector would remain important in strengthening industrial competitiveness, encouraging modernisation and expanding Pakistan’s presence in international markets.

The delegation included President Faisalabad Chamber of Commerce and Industry (FCCI); Khurram Mukhtar, former Chairman PTEA and Group Leader; Arif Ihsan Malik, Zia Alamdar, Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA); and Sohail Afzal, Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA).

Federal Secretary Commerce, along with senior officials from the Finance Division and Tax Policy Office, also attended the meeting.