By Eman Alam
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday reaffirmed the government’s commitment to maintaining a consultative policy framework as the Pakistan Business Council (PBC) transitioned its leadership.
Aurangzeb met with a delegation of the PBC led by outgoing Chief Executive Officer (CEO) Ehsan Malik and incoming CEO Javed Kureishi at the Finance Division, the division said in a press release. The minister welcomed the PBC’s transition in leadership and extended his full support to the incoming team, reaffirming the government’s commitment to maintaining an inclusive and ongoing consultative process with key stakeholders in the business community.
During the meeting, Aurangzeb appreciated the constructive role played by the PBC, particularly acknowledging the value of its policy input, research, and the extensive sectoral data regularly shared with the government.
He underscored the importance of evidence-based policymaking and informed the delegation that the Tax Policy Office had been relocated from the Federal Board of Revenue (FBR) to the Finance Division, intending to institutionalise tax policy formulation and strengthen engagement with forums such as the PBC. Aurangzeb also emphasised that the government places high value on the perspectives and feedback of the business and industrial community, and in keeping with this approach, the consultative process for the federal budget 2025–26 was initiated earlier than usual this year. This step was taken to allow greater time for dialogue, reflection and integration of a wide range of recommendations received from chambers, trade bodies, and business forums into the budget-making process, he added.
Earlier, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, today chaired a high-level meeting of the Cabinet Committee on Rightsizing of the Federal Government at the Finance Division. The meeting, attended by Minister for Power Sardar Awais Ahmad Khan Leghari and other senior officials, focused on critical reforms aimed at enhancing institutional efficiency and optimizing government structures.
A key highlight of the meeting was a detailed presentation by the Power Division on the Power Planning and Monitoring Company (PPMC). The presentation covered PPMC’s institutional background, strategic functions, key achievements, progress on high-impact functions, and future plans. Emphasis was placed on strengthening PPMC’s role as a technical backbone for planning and performance monitoring within the power sector, with a focus on evidence-based forecasting, system efficiency, and inter-sectoral coordination. PPMC plays a crucial role in monitoring the performance of power distribution companies (DISCOs) and other entities within the power sector.
A preliminary presentation was also delivered by the Law Division, outlining its scope of work, performance benchmarks, and ongoing rightsizing initiatives. The discussion highlighted the broader implications of these initiatives for public policy and service delivery, with proposals to improve institutional efficiency, eliminate functional overlaps across its attached departments, and achieve better outcomes through leaner administrative structures. Subsequently, the Cabinet Committee deliberated on recommendations submitted by the Sub-Committee on Rightsizing, chaired by Mr. Salman Ahmad, Ambassador-at-Large. These recommendations specifically pertained to the organizational framework of the Revenue Division, which oversees the Federal Board of Revenue (FBR). The proposals outlined a comprehensive approach to institutional reform, aiming to enhance structural efficiency, optimize human resource deployment, and strengthen alignment with national objectives.
In his remarks, Finance Minister Aurangzeb underscored the paramount importance of the FBR, stating that it “stands at the core of Pakistan’s fiscal architecture.” He reaffirmed the government’s steadfast commitment to implementing the FBR transformation plan, which has been approved by the Prime Minister. The overarching goal of this plan is to significantly raise the nation’s tax-to-GDP ratio and transform the FBR into a modern, efficient, and accountable revenue authority, deemed “essential to fiscal sustainability.” The FBR has reportedly set a target to achieve a national tax-to-GDP ratio of 18% by fiscal year 2027-28.
