Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has welcomed Finance Minister Muhammad Aurangzeb’s categorical statement at the FPCCI Lahore office that the government has successfully transitioned from “economic stabilization” to an “industrial growth” phase.
Reacting to the Minister’s address at the ‘Pakistan Economic Growth Conference’ held this Saturday at FPCCI Office Lahore, Mian Zahid Hussain stated that the business community is relieved to hear the Finance Minister finally acknowledge that the state cannot employ 250 million people and that the private sector is the primary engine of job creation. He noted that the Minister’s commitment to providing “all possible resources” to the private sector must now be translated into lower energy tariffs and single-digit interest rates, without which industrialisation remains a pipe dream.
Mian Zahid Hussain specifically highlighted the Finance Minister’s promise regarding the Super Tax. He stated, “The Minister’s assurance that the government is reviewing the Super Tax mechanism and considering an instalment plan for its payment is a major confidence booster. We urge the FBR to issue a notification for this instalment facility within 48 hours to prevent the harassment of compliant taxpayers.”
The veteran business leader also stressed the urgency of the Minister’s timeline for the textile sector. “Mr. Aurangzeb has asked for 10 to 12 days to announce concrete steps for the textile industry. We welcome this deadline, but we warn that with exports already under pressure from regional competitors like India—who have secured duty-free access to Western markets—any delay beyond this timeframe will be disastrous,” he said. He further appreciated the Minister’s candid admission that IT exports are currently hovering around $3-4 billion but have the potential to hit $10 billion if the “digital ecosystem” is facilitated rather than police. Mian Zahid Hussain also appreciated the invitation of the finance minister to various sectoral associations for the extended dialogues in Islamabad in the next fortnight.
Mian Zahid Hussain also supported the Minister’s tough stance on tax evasion, citing the FIR against a sitting senator in the tobacco sector as proof of the government’s writ. However, he urged that this strict enforcement should be directed at the Rs 3 trillion informal sector and smugglers, rather than squeezing the existing salaried class and documented industries and commercial entities.
He concluded by demanding that the promised “Construction Relief Package” be decoupled from real estate speculation and focused entirely on low-cost housing and industrial infrastructure to jumpstart the 40 allied industries linked to construction. “The Finance Minister has spoken the language of the business community in Lahore; now Islamabad’s bureaucracy must implement his vision,” Mian Zahid Hussain added.
