PM Shehbaz Urges Exporters To Boost Performance As Finance Minister Outlines Growth Reforms.
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✧ GENERATE BRIEFING
Prime Minister Shehbaz Sharif criticized export industries for lagging performance despite state backing, while Finance Minister Aurangzeb detailed IMF-backed reforms at the PSX. Prime Minister Shehbaz Sharif addressed the Pakistan Stock Exchange (PSX) via video link, expressing sharp concern over the persistent underperformance of Pakistan's export-oriented industries despite decades of heavy government support, subsidies, and incentives. Urging exporters to correct course, the prime minister emphasized that future economic stability relies heavily on value addition, global competitiveness, and export-led growth. Speaking concurrently from the PSX Trading Hall, Finance Minister Muhammad Aurangzeb outlined the government’s ongoing reform agenda under the IMF Extended Fund Facility. He highlighted efforts to shift public borrowing toward non-bank channels and retail investors, expand capital market asset classes via the Capital Market Development Council, and target a real GDP growth rate of 4% for FY2026-27 while maintaining strict macroeconomic stability.
Prime Minister Shehbaz Sharif has urged Pakistan’s export-oriented industries to deliver stronger results, saying successive governments have provided substantial incentives and support but the country has not achieved the desired export performance.
Addressing the Pakistan Stock Exchange (PSX) through a virtual link, the prime minister said the government remains committed to export-led and sustainable economic growth following the stabilisation of the economy. He criticised some export industries for benefiting from government support without delivering corresponding improvements in performance.
Shehbaz noted that prices of some export products had increased while their quality had deteriorated despite decades of government support. He urged exporters to correct course and contribute more effectively to the country’s export-led growth strategy.
Finance Minister Outlines IMF Reforms and Capital Market Expansion
Meanwhile, Finance Minister Muhammad Aurangzeb, speaking at the PSX Trading Hall, presented an overview of the government’s ongoing reform programme under the IMF Extended Fund Facility. He said the government intends to strengthen fiscal discipline and gradually shift public borrowing away from commercial banks towards non-bank sources and retail investors.
Aurangzeb outlined key structural initiatives:
- Capital Market Diversification: The Capital Market Development Council is reviewing diverse asset classes—including venture capital, Sukuk, and real estate investment trusts (REITs)—to broaden the market.
- Phased Regulatory Overhaul: Taxation and regulatory frameworks are under review for phased introduction with built-in safeguards rather than sudden, disruptive shifts.
- Institutional Coordination: The council—incorporating the SBP governor, SECP chairman, and key stakeholders—is scheduled to present formal recommendations to the Prime Minister’s Office, SBP, SECP, and Finance Ministry by the end of 2026.
Legislative Agenda and Macroeconomic Outlook
The finance minister added that the SECP is actively preparing a legislative reform agenda for parliamentary review.
Looking at broader macroeconomic targets, Aurangzeb projected Pakistan’s economy to expand by 4% in FY2026-27, up from 3.7% in FY2025-26. However, he cautioned that relying primarily on domestic consumption-driven growth risks triggering fresh balance-of-payments crises and forcing the country back into reliance on IMF programs, reinforcing the absolute necessity of sustainable, export-led expansion.
