Finance Minister Muhammad Aurangzeb in an interview during the 2026 World Bank Spring Meetings with China Global Television Network’s “The Heat.” PHOTO: SCREENSHOT
ISLAMABAD:
Finance Minister Muhammad Aurangzeb has 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.
Speaking at a Senate session chaired by President Syed Yousaf Raza Gilani on Wednesday, the minister said the government was making efforts to protect vulnerable segments of society through targeted subsidies despite budgetary 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 call for attention, Aurangzeb informed the House that over Rs 5.4 billion in subsidies had already been provided, benefiting around 800,000 motorcycle users through subsidized petrol for three months.
Additionally, Rs4.6 billion was provided to farmers to compensate for rising fuel costs. “Our aim has been to prevent an increase in transport fares and reduce pressure on the common man,” he said.
He highlighted improvements in revenue collection, saying the FBR’s revenue had increased from Rs 7.5 trillion to an expected Rs 13.5 trillion by the end of the current financial year.
The session was also marked by strong criticism from the opposition benches regarding the political situation in the country, particularly in Britain and AJK.
The Leader of the Opposition in the Senate, Senator Allama Raja Nasir Abbas, has rejected the results of the recent British elections, alleging large-scale rigging 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 growing political disenfranchisement could have long-term consequences.
The opposition leader also criticized the handling of protests in Azad Kashmir, urging the government to embrace dialogue rather than force. He warned that resorting to coercive measures against citizens could deepen divisions and weaken democratic institutions.
Responding to criticism, Senator Rana Sanaullah, adviser to the prime minister on political affairs, rejected allegations of electoral fraud, saying the British election was peaceful and transparent.
NA session
The National Assembly on Wednesday held a wide-ranging debate on issues including Pakistani prisoners abroad, rising HIV cases, the recent UK elections and the situation in AJK, with the opposition pressuring the government for electoral transparency and political freedoms.
Opposition leader Mahmood Khan Achakzai criticized the government for the current situation, including developments in Balochistan, Kashmir and restrictions on meetings with the PTI founder. He accused the government of restricting political freedoms and called for a more inclusive approach.
Law Minister Azam Nazeer Tarar rejected the opposition’s allegations, saying the government was open to consultations on the appointment of the chief election commissioner. He also rejected claims of fraud in the UK election, calling on the opposition to engage in dialogue with the prime minister to address their concerns.
