Finance Minister Muhammad Aurangzeb in an interview at the World Bank’s 2026 Spring Meetings with China Global Television Network’s “The Heat.” PHOTO: SCREEN CAPTURE
ISLAMABAD:
Finance Minister Muhammad Aurangzeb warned that even if an immediate ceasefire is achieved in the Gulf region, the economic repercussions for Pakistan could persist for up to a year.
During a Senate session chaired by President Syed Yousaf Raza Gilani on Wednesday, the minister said the government is making efforts to protect vulnerable segments of the society through targeted subsidies despite fiscal constraints.
He noted that the oil tax was linked to commitments made to the International Monetary Fund (IMF), adding that adjustments were being made to balance the burden.
Responding to a wake-up call notice, Aurangzeb informed the house that over Rs 5.4 billion in subsidies had already been provided, benefiting approximately 800,000 motorcycle users through subsidized petrol for three months.
Additionally, Rs 4.6 billion had been given to farmers to offset rising fuel costs. “Our objective has been to avoid an increase in transport fares and reduce the pressure on the common man,” he said.
He highlighted improvements in revenue collection and stated that FBR’s revenue had increased from Rs 7.5 trillion to Rs 13.5 trillion expected by the end of the current fiscal year.
The session also witnessed strong criticism from the opposition benches over the political situation in the country, particularly in GB and AJK.
Leader of the Opposition in the Senate, Senator Allama Raja Nasir Abbas, has rejected the results of the recent GB elections, alleging large-scale fraud and manipulation. He said delays in announcing results and selective dissemination of results had undermined public confidence in the electoral process.
“If the public mandate is stolen, the entire system loses legitimacy and becomes incapable of handling crises,” he said, adding that increasing political disenfranchisement could have long-term consequences.
The opposition leader also criticized the handling of protests in Azad Kashmir and urged the government to adopt dialogue instead of force. He warned that the use of coercive measures against citizens could deepen divisions and weaken democratic institutions.
Responding to the criticism, Senator Rana Sanaullah, Adviser to the Prime Minister on Political Affairs, rejected allegations of electoral fraud and stated that the UK elections were conducted peacefully and transparently.
NA session
The National Assembly on Wednesday held a wide-ranging debate on issues including Pakistani prisoners abroad, rising HIV cases, recent elections in Britain and the situation in AJK, as the opposition presses the government on electoral transparency and political freedoms.
Opposition leader Mahmood Khan Achakzai criticized the government over the prevailing situation, including the developments in Balochistan, Kashmir and restrictions on meetings with the PTI founder. He accused the government of limiting political freedoms and called for a more inclusive approach.
Law Minister Azam Nazeer Tarar rejected the opposition’s allegations and said the government was open to consultations on the appointment of the chief election commissioner. He also dismissed accusations of rigging in the UK polls and called on the opposition to engage in dialogue with the prime minister to address concerns.
