Minister for Finance and Revenue Senator Muhammad Aurangzeb reaffirmed the government’s commitment to carrying forward the trajectory of macroeconomic stability and economic turnaround to achieve sustainable progress and growth.
Addressing a televised press conference at the Pakistan High Commission in London, the minister said the national economy was heading in the right direction due to the incumbent government’s adoption of a broader economic reform agenda.
He informed that he had held over 70 meetings with different bilateral, multilateral and development partners and donor agencies, and they expressed a remarkable response for Pakistan, which was attributed to the prudent economic policies of the government.
He said that due to the economic policies of the current government, macroeconomic indicators were showing resilience as inflation went down, foreign exchange reserves built up, and local currency remained stable.
He said that two fiscal deficits, which were the main challenge for the national economy, were controlled, adding that the current account surplus would be maintained during the fiscal year, besides the primary surplus on the fiscal side.
Besides, the rate of interest was also reduced by 100 basis points due to decreasing inflation rate, he said, adding that the debt servicing was reduced by Rs 1 trillion during the period under review. The minister said that the economic reforms of the government received a remarkable response from the world.
Senator Aurangzeb said that he had also held productive meetings with investors of different sectors and apprised them about the investment scope available in the fields of IT, minerals and the mining sector of the country.
The minister said that the government was also working on the structural reforms to enhance revenue collection, promoting exports and attracting foreign direct investment to attain sustainable investment-led economic growth and social prosperity.
