Sugar and Wheat Markets Will Now Set Their Own Rates, Confirms Finance Minister

The government is moving toward full deregulation of the sugar and wheat sectors to eliminate state involvement, Finance Minister Muhammad Aurangzeb said on Wednesday. A tax policy has been separated from the Federal Board of Revenue (FBR) and shifted to the Finance Division. The upcoming budget will be prepared by the new tax policy office to ensure consistency and transparency. Aurangzeb said the government aims for export-led growth, with every sector required to contribute to exports. He added that eight new working groups are addressing industrial and export challenges in consultation with the business community. He said tariffs on industrial raw materials and intermediaries will be reduced to support export-oriented industries. Textiles remain the backbone of exports, while IT and pharmaceuticals are recording strong growth. The minister said the upcoming National Finance Commission (NFC) meeting will review provincial shares in the federal divisible pool. On Reko Diq, he said operations will begin in 2028 with the first export valued at $2.8 billion.