By S.M. Inam
ISLAMABAD: The federal government has eliminated 54,000 vacant positions across various departments, a move projected to save the national exchequer around Rs56 billion annually, Federal Finance Minister Senator Muhammad Aurangzeb announced on Thursday.
Speaking at an event in Islamabad, the minister said the reforms aimed to strengthen economic stability, financial discipline, and competitiveness. He highlighted positive signs in the economy, noting that investor confidence had risen according to the latest OICCI survey.
Aurangzeb said global firms in energy, mining, and the automotive sector were showing increased interest in Pakistan, and that the country’s tax system was rapidly moving towards full digitalization. The Finance Ministry has assumed responsibility for tax policy from the FBR, with a new Tax Policy Office now operational, he added.
Aurangzeb noted improvements in public finances, including extending average debt maturities to four years and reducing refinancing risks. A new contributory pension system launched in 2024 already covers over 9,000 employees.
The first meeting of the 11th NFC Award is scheduled for 4 December. The minister added that Pakistan aims to issue its first panda bond in China before the new year and that regulatory frameworks for crypto and digital assets were nearing implementation.
Economic growth is projected at 3.5 percent this year, potentially rising to 4 percent next year, with medium-term growth possibly reaching 6–7 percent. Remittances remain stable, and the performance of the Roshan Digital Account continues to be positive. Aurangzeb stressed that ensuring returns, stability, and security is essential to attract both domestic and foreign investment.
