Federal Minister for Finance Senator Muhammad Aurangzeb has said that consultations on the next National Finance Commission (NFC) Award would be completed by January 15.

Addressing the All Pakistan Chambers Conference in Lahore on Saturday, the finance minister said that the assets of parliamentarians would be made public on a government website by December 31.

Assets of public servants would also be uploaded online, the finance minister said, stressing the need for transparency across all levels.

He also said provincial finance ministers had been consulted on the NFC Award and reiterated that transparency in asset declarations should apply not only to lawmakers but also to bureaucrats, noting that the IMF had also called for public disclosure of civil servants’ assets.

“These are not additional IMF conditions but practical reform measures,” the finance minister said, adding that investor-friendly policies had strengthened the economy.

On the occasion, Muhammad Aurangzeb announced that the Pakistan Agricultural Storage and Services Corporation (PASSCO), which he described as a hub of corruption, was being shut down as part of structural reforms.

Aurangzeb said the government was introducing long-term tax policies aimed at economic stability, adding that sustainable economic growth was essential for the country’s progress.

“The economy is not being run through coercion; decisions are being made in consultation with the business community,” he said, noting that the prime minister had expressed full confidence in the private sector.

The finance minister said companies involved in tax evasion were now being sealed, adding that governance reforms were necessary to run the country effectively.

He revealed that bidding for Pakistan International Airlines (PIA) would take place on December 23, adding that some of the country’s leading business groups were participating in the bidding process and were even willing to work jointly.

Aurangzeb said exports had stood at $38 billion last year and were expected to rise to $42 billion this year, reflecting improvements in the export-oriented industry and an increase in foreign exchange earnings.