Finance Minister Muhammad Aurangzeb said that Pakistan has entered a phase of development after economic stability and economic reforms.
“We have improved domestic and global confidence, and the economy is now moving towards export-based growth instead of debt,” he remarked. Finance Minister Senator Muhammad Aurangzeb, while giving an interview to an American newspaper, said that inflation has come down from 38 percent to single digits, and foreign exchange reserves have also exceeded 14.5 billion dollars.
He said that the primary budget and current account surplus are important milestones, the stability in the exchange rate has restored investor confidence, the two-point-seven percent economic growth is positive but insufficient, and reforms are underway in taxes, energy, and government institutions.
Muhammad Aurangzeb said that IT exports are likely to double in five years, privatization and tariff reforms will increase global competitiveness, according to the World Bank, there is a possibility of an East Asia Moment in Pakistan.
The Finance Minister said that women’s education and participation in the workforce are inevitable, global cooperation is necessary regarding the major challenges of climate change, there are investment opportunities in agriculture, minerals, and the digital economy, Balochistan’s Tethyan belt is the centre of global attention, and data centres have great potential in AI and digital services.
Muhammad Aurangzeb said that Pakistan is ready for trade and investment. The journey towards an economy of opportunity has begun after emerging from the crisis. The American newspaper has also published a Pakistan Special Report.
