Budget 2026-27, focused on export-led growth, Competitiveness, industrial expansion: Finance Minister

ISLAMABAD, Jun 13 (APP): Federal Minister for Finance and Revenue Muhammad Aurangzeb on Saturday said that export-led growth is the central theme of the Federal Budget 2026-27, reaffirming the government’s commitment to creating an enabling environment for increasing exports and achieving sustainable economic growth.

Addressing a post-budget press conference alongside federal ministers and the Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, the finance minister, said the budget aims to enhance competitiveness and productivity in the industrial sector while providing significant relief to exporters through various tax and duty measures.

Aurangzeb said the government, under the direction of Prime Minister Muhammad Shehbaz Sharif, is also preparing a new tariff policy aimed at rationalizing tariffs to improve the competitiveness of Pakistani exports in international markets.

He emphasized the growing importance of the services sector alongside merchandise trade, expressing confidence that Pakistan’s Information Technology (IT) sector would achieve exports worth $4.5 billion during the current fiscal year.

“The IT services and freelancing sectors are emerging as key contributors to the economy and will play a major role in promoting export-led growth and the development of a digital economy,” he said.

The minister noted that extensive consultations were held with leading business organizations, including the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Sialkot Chamber of Commerce and Industry, Lahore Chamber of Commerce and Industry, Karachi Chamber of Commerce and Industry, Islamabad Chamber of Commerce and Industry, Quetta Chamber of Commerce and Industry, and the Pakistan Business Council (PBC), before finalizing measures to support local industries.

He said the government’s priority in Budget 2026-27 is to promote “Made in Pakistan” products, strengthen manufacturing, and support Small and Medium Enterprises (SMEs) to boost exports and economic activity.

Aurangzeb stressed that Pakistan possesses ample resources and potential but requires effective management to fully capitalize on opportunities in global markets.

“The industrial sector is the key driver of export-led growth, and greater access to international markets will help Pakistan achieve higher export volumes,” he said.

Highlighting the importance of public-private partnership, the finance minister said the government intends to provide the private sector with a leading role in driving economic growth, enhancing productivity, and improving industrial competitiveness.

He added that several initiatives introduced in the budget are designed to facilitate the private sector and encourage export-oriented investment.

The minister further said reforms within the Federal Board of Revenue (FBR) are an integral part of the government’s strategy to improve the business environment, promote industrial growth, and strengthen Pakistan’s export sector.

He reiterated that both small-scale and large-scale manufacturing remain key priorities for achieving the country’s export-led growth objectives and ensuring long-term economic stability.