The public, hoping for new job opportunities, salary increases, and relief in utility rates and taxes, may feel disappointed. However, the corporate sector, cognizant of the fragile economic situation and wary of repeating the boom-bust cycles of the past, has expressed support for the government’s policy of prioritising stabilisation over growth in Pakistan for now.

Finance Minister Aurangzeb Khan recently reaffirmed the government’s commitment to maintaining stabilisation policies, emphasising a cautious path rather than rushing into a pro-growth strategy.

While not necessarily advocating for populist policies, some observers criticised Finance Minister Khan’s statement as insensitive and lacking empathy for the working masses who have borne the brunt of stabilisation measures.

Leaders from second-tier businesses, represented in local chambers, especially those engaged in sectors like information technology, construction and agriculture, argued that the government could have taken a more balanced approach instead of villainising growth.

They suggested focusing on sectors that rely on internal resources and have minimal impact on the country’s current account. Some pro-PMLN business leaders advised the government to work on improving ties with neighbouring countries to capitalise on regional trade potential.

“One expects more from the leader of the economic team of an elected government, even a weak one. [Mr Aurangzeb’s] attitude reflects a complete disconnect from the struggles of ordinary Pakistanis, who are........

© Dawn Business