Peshawar – Federal Finance Minister Muhammad Aurangzeb announced that Pakistan has decided not to seek immediate foreign aid in response to the recent floods, emphasizing that the government is determined to manage the crisis using its own resources and resilience. Speaking at the Pakistan Business Summit in Peshawar, Aurangzeb said, “We have made the decision not to ask for immediate aid. Our goal is to handle the situation through our own strength.”

He elaborated on the government’s broader economic vision, stating that the Federal Board of Revenue (FBR) will now focus solely on tax collection, while the upcoming fiscal year’s budget will be prepared by the Tax Policy Office. According to him, the new budget will be a stabilizing one, designed to bring fiscal discipline, economic predictability, and long-term stability.

Aurangzeb stressed that sustainable growth cannot be achieved without the active participation of the private sector. He said that the government is committed to creating a business-friendly environment where industries can flourish. As part of this effort, regulatory material costs have been reduced to allow industries to continue operating effectively, remain competitive, and contribute to economic recovery.

“The private sector plays a vital role in the development of any country,” he said, adding that Pakistan’s future prosperity depends on strengthening confidence in the economy. He argued that to move the private sector forward, tax structures, compliance systems, and other regulatory issues must be addressed in a way that encourages entrepreneurship and investment.

The finance minister noted that while the government has chosen not to rely on external assistance for now, the door remains open for international cooperation if conditions worsen. “If the situation escalates, we will engage with donor agencies and partner countries, but for now, our focus is firmly on mobilizing domestic resources,” he explained.

Economic analysts suggest that this approach reflects a strategic balance between self-reliance and preparedness for external collaboration. By not immediately seeking aid, the government signals confidence in its capacity to manage both economic and environmental challenges, while also showing determination to build institutional strength.

Aurangzeb concluded by underlining that the resilience of Pakistan’s economy depends on fiscal reforms, efficient tax management, and most importantly, the empowerment of the private sector. “Only by strengthening local businesses and industries can we generate jobs, build confidence, and lay the foundation for sustainable development,” he remarked.

This dual focus—on disaster management without immediate foreign aid, and on fostering a stable, private sector-led economy—highlights the government’s intent to strike a new course in both governance and development.