KARACHI 27 April 2026: Mian Zahid Hussain, Chairman of the Budget Advisory Council of FPCCI, 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 lauded the federal government’s decision to initiate a nationwide consultative process for the upcoming Federal Budget 2026-27. Speaking in the context of the recent high-profile visit of State Minister for Finance and Revenue, Mr. Bilal Azhar Kayani, to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Zahid Hussain said that the inclusion of the business community in the policymaking process is a prerequisite for achieving sustainable economic stability and breaking the destructive boom-and-bust cycles that have historically plagued the national economy.
Mian Zahid Hussain stated that the Minister’s engagement with the industrial leadership at FPCCI underscores the Prime Minister’s “whole-of-economy” approach. He noted that during the deliberations, the Minister stated that Pakistan has witnessed measurable macroeconomic stabilization, supported by lower inflation, IMF review completions, and stronger foreign reserves since February 2024. This progress is evident in the successful completion of two major IMF program reviews and a significant improvement in the external account, which has bolstered foreign exchange reserves and restored the confidence of both local and international investors. He emphasized that the government’s focus on broadening the tax base and improving the investment climate is the right direction for the country.
The veteran business leader highlighted the significance of the nine specialized working groups constituted by the Prime Minister, which include experts and stakeholders from various sectors. These groups are tasked with formulating targeted policy recommendations to enhance industrial competitiveness and foster an export-led growth model. Mian Zahid Hussain remarked that moving away from import-led consumption toward a productivity-driven economy is the only way to ensure long-term prosperity. He also appreciated the Minister’s assurance that the government remains responsive to global energy price hikes, and maintaining targeted subsidies to the general public, farmers, and the transport sector to mitigate the impact of the rising global oil prices.
Mian Zahid Hussain further acknowledged that the minister noted down 84 proposals presented by the business community on the spot, regarding tax policy and the ease of doing business. Mian Zahid Hussain expressed hope that these recommendations would be reflected in the upcoming budget to reduce the cost of production and make Pakistani products more competitive in the global market. He pointed out that the recent “Exporters’ Recognition Awards” are a testament to the government’s commitment to prioritizing the export sector as a main pillar of the economy.
Concluding his statement, Mian Zahid Hussain urged the government to continue this momentum of consultation. He said that the industrial heart of Pakistan, particularly Karachi, requires consistent policy support to overcome structural challenges. He reaffirmed the commitment of the business community to work hand-in-hand with the government to achieve the target of a growth-focused and inclusive federal budget that addresses the needs of all stakeholders, from large-scale manufacturers to small traders.
