Finance Minister Muhammad Aurangzeb is presenting the Pakistan Financial Survey (PES) for FY2025-26.
Addressing a press convention in Islamabad, he stated the survey advised a narrative, reflecting the resilience and self-discipline proven throughout the earlier yr.
He stated the nation started the outgoing fiscal yr with uncertainty because of tariffs. “Then, by the tip of July, we reached a degree the place we could possibly be in a aggressive place with respect to our exports, particularly to the US,” he added.
Then there have been floods in August and September 2025, adopted by a regional battle in March this yr.
“These challenges examined Pakistan’s resilience,” he stated, including that the federal government was in a position to take care of them and remained on the trail of transferring from stabilization to development.
GDP growth
He said GDP growth in FY26 was recorded at 3.7 percent, further pointing out that global growth had reduced to 3.1pc from 3.7pc due to the factors he elaborated on earlier in the press conference.
The finance minister said that Pakistan had recorded GDP growth of 3.7pc, which was the highest in the past four years. The finance minister recalled that GDP growth in FY2023 was -0.2pc, 2.6pc in FY2024 and 3.2pc in FY2025.
He said it was earlier estimated that GDP growth would exceed 4pc, but it did not happen due to the ongoing conflict in the Middle East.
“But having said that, we have still reached a historically high size of the economy at Rs126.9 trillion,” he said.
The minister said GDP per capita income had reached $1,901, which was $1,751.
Agriculture
Giving a sector-wise breakdown, he said growth in agriculture was recorded at 2.89pc, compared to 1.53pc in the last fiscal year. “This was despite floods,” he said, adding that the crop sub-sector showed positive growth. After contraction, it was recorded at 1.44pc, the finance minister said.
He added the livestock sector also “continues to go from strength to strength”.
LSM
Aurangzeb said 6.1pc growth was recorded in large-scale manufacturing (LSM) in FY26, which was the highest in the last four years. He elaborated that positive growth was seen in 16 of LSM’s 22 sub-sectors.
“So it’s not one single sector that is leading or contributing to this 6.1pc turnaround in LSM. It is broadband. [growth],” he said.
He further said that prominent year-on-year growth was witnessed in this sector. “To give you some examples, there was a 10pc increase in the demand for cement, 17pc for fertiliser, 5pc for petroleum, 31pc for automobiles and 9pc for mobile phones.”
More to follow
