Finance Minister Muhammad Aurangzeb has announced that the government has abolished 54,000 vacant posts across various departments, a move that he said will save the national exchequer Rs56 billion annually. He added that the process of merging and restructuring several ministries and divisions is also under way as part of broader fiscal reforms.
Speaking at an event organised by the Pakistan Business Council in Islamabad, the finance minister said the government is pushing ahead with reforms aimed at economic stability, competitiveness and improved financial discipline.
Aurangzeb said that the agenda to fully digitalise the tax system is progressing rapidly, with the government committed to shifting the country from a cash-based economy to a documented economy.
The minister highlighted that Pakistan’s average debt maturity has increased to four years, reducing refinancing risks. He reiterated the government’s efforts to cut unnecessary expenditure and restructure state institutions.
On economic performance, Aurangzeb said the country is expected to achieve 3.5% growth this year, with projections of 4% next year. He added that in the medium term, Pakistan’s growth potential could rise to 6–7%, provided reforms continue.
The minister also noted that a regulatory framework for cryptocurrency and digital assets is close to becoming operational.
He stressed that boosting exports is essential for sustainable economic progress and said the private sector is driving the country’s economic direction.
Aurangzeb confirmed that the first meeting of the 11th NFC Award will take place on December 4.
