Islamabad (GNP) : Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting at the Finance Division with a delegation of the Mutual Funds Association of Pakistan (MUFAP), led by Shahzad Dada, Chairman MUFAP, to discuss matters relating to the mutual fund industry and its role in the context of the Federal Budget 2026–27.
Welcoming the delegation, the Finance Minister appreciated the continued engagement of the asset management industry in supporting policy dialogue. He acknowledged the significant role of the mutual fund sector in mobilizing savings, strengthening financial intermediation, and contributing to the development of Pakistan’s capital markets.
The discussion focused on the broader savings landscape and the need to further enhance the efficiency and depth of financial instruments available to investors. Participants highlighted the need to reinforce institutional mechanisms that facilitate savings mobilization, while ensuring that policy measures remain aligned with long-term financial sector objectives.
The meeting covered matters relating to the mutual fund industry, including views on the budget framework and the need for regulatory improvements to support sector growth. Participants highlighted the importance of facilitating the creation of alternative fund vehicles to broaden investment avenues within the asset management space.
The need to enhance retail participation in mutual funds was emphasized as a key priority to deepen the savings base and expand financial inclusion. The importance of fostering greater participation by non-bank financial institutions was also highlighted in the context of strengthening the mutual fund industry and overall market development.
Participants also shared views on National Savings Schemes (NSS), emphasizing the need to align these instruments with broader market dynamics to avoid distortions and ensure a level playing field across savings products. A gradual and well-coordinated approach in this regard was considered important.
The Finance Minister acknowledged the perspectives shared by the delegation and noted that their proposals would be carefully reviewed in the context of the ongoing budget formulation process. He emphasized the Government’s focus on creating a balanced and enabling environment that supports the growth of the asset management industry while maintaining financial stability, and reiterated the need to further strengthen the savings ecosystem as a key pillar of sustainable economic development.
The meeting concluded with a shared understanding on the need for ongoing engagement between the Government and the mutual fund industry to support informed policymaking and enhance the sector’s contribution to capital market development and resource mobilization.
The meeting was attended by Mashmooma Zehra Majeed, Chief Executive MUFAP; the Board of Directors MUFAP, Dr. Amjad Waheed, MMuhammad Abdul Samad, Imtiaz Gadar, Khaldoon Bin Latif, along with senior officials from the Ministry of Finance, including the Director General, Tax Policy Office, and Member (Inland Revenue Operations), amongst others.
