ISLAMABAD– Finance Minister Muhammad Aurangzeb said on Tuesday that Pakistan’s structural reforms have put the economy on track for sustainable growth, citing improved macroeconomic fundamentals and renewed investor confidence.
Speaking virtually at the Meeting of Finance Ministers and Central Bank Governors of SCO Member States in Beijing, Aurangzeb highlighted a current account surplus, primary fiscal surplus, currency stability, declining inflation, and improved foreign exchange reserves as signs of progress. He noted that credit rating upgrades by global agencies reflect growing international confidence in Pakistan’s reform path.
“These improvements are the result of difficult but necessary reforms in taxation, state-owned enterprises, energy, and public finance,” he said, reiterating Pakistan’s commitment to staying the course.
Aurangzeb reaffirmed Pakistan’s support for the SCO’s vision of regional cooperation and shared prosperity, and called for enhanced collaboration in trade, investment, and financial integration among member states. He proposed joint ventures, technology transfer, and capacity-building initiatives to boost economic ties.
Underscoring the importance of the digital economy, he pointed to successful initiatives like Roshan Digital Accounts and Pakistan’s growing digital banking infrastructure as tools for expanding financial inclusion.
The minister also emphasized the need for joint responses to global economic challenges such as slowdowns, rising protectionism, and climate change, and urged member countries to adopt inclusive and sustainable development strategies.
Aurangzeb expressed strong support for the proposed SCO Development Bank, calling it a “pivotal institution” for financing regional infrastructure and promoting innovation. He said the bank should incorporate green financing, digital tools, and fintech innovation into its mandate.
He welcomed the launch of the SCO Network of Financial Think Tanks, calling it a valuable forum for policy coordination and research.
“Through shared knowledge, regional investment, and deepened cooperation, the SCO can be a driver of economic transformation across the region,” he concluded.
