- Finnish provides for an influx of funds of $ 36 billion of $ 36 billion per FY25 END.
- Said independent investigations in the last quarter, Bosot in business morale.
- Aurangzeb expresses optimism as to the global management of the stock market market.
The Minister of Finance, Muhammad Aurangzeb, said on Tuesday that, for the first time, Sugar to Afghanistan had been exported by official channels rather than smuggling, with the support of border law enforcement organizations.
“… We need each dollar to balance our current account,” said the Minister of Finance at a press conference with the Federal Minister of Information Attaullah Tarar.
Developing on the implementation and efficiency of the strict production monitoring system, the country’s main economic manager qualified the development of positive.
“During this sugar season, the country would have 5.7 million tonnes of sugar in addition to the available stock of the previous one,” said Aurangzeb.
He expressed his confidence that it would be enough to meet the needs of the country thanks to better management.
“In addition to these technological measures, FBR staff (Federal Board of Renta) were deployed in Sugar Mills across the country to ensure responsibility and reduce practical false,” said the Minister of Finance.
He said that the presence of the Federal Investigation Agency (FIA) and the Intelligence Office (IB) officers, as well as other law enforcement organizations, have further strengthened the application of the system.
“The result is that sugar is now sold to real distributors, and profits and corruption within the supply chain are considerably minimized,” said Aurangzeb.
Meanwhile, in its attempt to stabilize and lower sugar prices, the federal government has decided to import raw sugar (Shakkar), news reported on Tuesday.
The import of raw sugar, in accordance with a press release published by the government, would help reduce prices of sugar and also increase the production of future sugar, as it could be refined and converted to sugar locally.
Development occurs while sugar prices in the country have experienced a significant increase in recent months, the price reaching the national average at 150.43 rupees per kilogram last month.
Commenting on the current reforms in the sugar industry, he noted that when the 2024-2025 sugar cane crushing season had started, the FBR had implemented a new improved production monitoring system for sweets.
“This system includes five surveillance mechanisms, such as athletics stamps, automated meters and video recording to increase transparency,” he said.
Since the week ending on November 28, 2024, sugar prices have increased by RS18.58 per kg, reflecting an increase of 14.3%. A year ago, in February 2024, the average price was RS144,47 per kg, marking an annual increase of approximately RS6 per kg.
The increase in continuous prices coincides with the government’s decision to approve the exports of large -scale sugar.
Between June and October 2024, the authorities authorized the export of 750,000 metric tonnes, including a final approval of 500,000 metric tonnes in October.
The Minister of Finance also underlined the positive impact of these reforms on government revenues, noting that the collection of sugar sales tax in the first two months of 2025 had increased sharply compared to the same period in the previous year, reaching 24 billion rupees, against 15 billion rupees the previous year.
“This 54% increase is a clear indication of the success of improved government surveillance systems,” he added.
Thanking the Pakistani diaspora for their contribution to the national economy, the minister said that the influx of funds for February 2025 had reached an impressive $ 3.1 billion. “We estimate a high-level entry of funds of $ 36 billion at the end of this exercise,” he said.
The Minister of Finance also shared the results of several independent surveys carried out during the last quarter, notably those of Gallup, ICC, Shapers abroad, Ipsos, PricewaterhouseCoopers and a recent of the Pakistan State Bank, which have all shown a notable increase in the confidence of companies and consumers.
“This confidence is reflected in an increased commercial activity, and it is promising to see these positive trends take root in various sectors,” he noted.
Despite the daily fluctuations in the stock market index, Aurangzeb expressed its optimism about the global market management.
He notably stressed that 52,000 new investors had entered the market in recent months, reporting growing interest in the financial sector of Pakistan.
In addition, the Minister of Finance has highlighted an important stage in the capital markets, with seven initial public offers (IPO) which take place on the stock market in the past year.
“This is the greatest number of IPOs in recent years, considerably exceeding the average of four IPOs per year in the last decade,” said the Minister of Finance.
“These are very encouraging signs of progress, both in terms of economic recovery and to promote a more dynamic market environment adapted to investors,” he said, adding that such developments suggested long-term long-term improvements.