Pakistan is at a pivotal moment, transitioning from economic stabilization to export-driven growth, according to Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. In a recent interview with USA Today, he emphasized that macroeconomic stability, sustained reforms, and policy continuity are restoring investor confidence, opening new horizons for both domestic and global investors. Aurangzeb stressed that Pakistan is now positioned for long-term, sustainable economic growth.
Aurangzeb highlighted that, for the first time in years, Pakistan has achieved both a primary fiscal surplus and a current account surplus, signaling a departure from the cycle of recurring deficits. He pointed to strong remittance inflows, a drop in inflation from 38% to single-digit levels, and an increase in foreign exchange reserves to over $14.5 billion as key factors in this turnaround. Despite these achievements, Aurangzeb acknowledged that sustainable growth remains the central challenge, with the government focusing on a shift from a debt-driven to an export-led growth model.
The minister outlined the government’s economic strategy, which includes structural reforms in taxation, energy pricing, and state-owned enterprises, alongside tariff liberalization to improve global competitiveness. He identified key sectors with high potential, such as information technology, textiles, and agriculture, and underscored efforts to simplify tax regimes and reduce bureaucratic hurdles to foster productivity. Aurangzeb also discussed the government’s commitment to climate resilience and population management, emphasizing the role of international cooperation in overcoming the risks and challenges that remain.
