Aurangzeb engages MUFAP on mutual fund reforms for Budget 2026–27

May 05, 2026 (MLN): The government  engaged with the Mutual Funds Association of Pakistan (MUFAP) to discuss the mutual fund industry’s role in the Federal Budget 2026–27, with a focus on strengthening the savings ecosystem, enhancing the efficiency and depth of financial instruments, and introducing regulatory improvements to support sector growth.

Participants emphasized the need to boost retail participation to deepen the savings base, expand financial inclusion, and encourage a greater role for non-bank financial institutions, according to a press release issued.

The discussion also highlighted the importance of facilitating alternative fund vehicles to broaden investment avenues, and aligning National Savings Schemes with broader market dynamics through a gradual and coordinated approach to avoid distortions and ensure a level playing field.

The meeting, held at the Finance Division, was chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb, who appreciated the asset management industry’s continued policy engagement and acknowledged its role in mobilizing savings, strengthening financial intermediation, and supporting capital market development.

The MUFAP delegation was led by Chairman Shahzad Dada and Chief Executive Mashmooma Zehra Majeed, and included board members Dr. Amjad Waheed, Muhammad Abdul Samad, Imtiaz Gadar, and Khaldoon Bin Latif, along with senior officials from the Ministry of Finance, including representatives from the Tax Policy Office and Inland Revenue Operations.

The minister noted that the proposals shared would be carefully reviewed as part of the ongoing budget formulation process, reaffirming the government’s commitment to a balanced and enabling policy environment to support sustainable economic development.

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