Islamabad (Web Desk): Finance Minister Senator Muhammad Aurangzeb on Monday said that Pakistan’s economy had been placed on a sound footing through decisive structural reforms now being executed to secure durable and broad-based growth.
He said this while addressing a joint press conference in Islamabad, accompanied by Federal Minister for Power Awais Ahmad Khan Leghari, Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja, and Adviser to the Prime Minister on Privatisation Muhammad Ali.
The finance minister stated that Pakistan’s economic direction had finally been set right and that the progress achieved toward macroeconomic stability was both visible and substantial.
He remarked that there was now broad agreement among stakeholders that Pakistan had made notable progress toward stabilizing the economy.
“We have achieved meaningful strides in restoring macroeconomic balance,” Aurangzeb said, noting that the government’s policies had started producing results recognized internationally as well.
The minister pointed out that three major global credit rating agencies had upgraded Pakistan’s ratings after three years, marking renewed confidence in the country’s economic outlook.
“These international institutions now share a common view not just on our current position but also on our improving prospects,” he said.
Muhammad Aurangzeb highlighted that the successful conclusion of the second International Monetary Fund (IMF) review and the subsequent staff-level agreement in Washington were strong endorsements of Pakistan’s ongoing reform efforts.
He added that stability in the exchange rate, growing foreign exchange reserves, declining inflation, and the easing of the policy rate were tangible indicators of improvement.
The minister further noted that foreign investors had already repatriated over four million dollars in profits and dividends, reflecting growing confidence in the economy.
Underscoring the importance of investor trust, the finance minister said that attracting new foreign direct investment (FDI) would depend on the satisfaction of existing investors.
“We must ensure that those already investing in Pakistan feel secure and confident before we can expect further inflows,” Aurangzeb said.
The finance minister stressed that the next step for Pakistan was to move beyond the recurring pattern of boom-and-bust cycles and build a foundation for steady, inclusive growth.
“Alhamdulillah, Pakistan is now at a promising intersection of economic stability and favourable geopolitical circumstances,” he said, referring to new opportunities for trade and investment with China, the United States, and Gulf Cooperation Council (GCC) states.
He reaffirmed that meaningful and lasting development could only come through structural reforms.
The minister explained that the government’s reform program encompassed major areas such as tax policy, energy sector reforms, restructuring and privatization of state-owned enterprises, rationalization of federal institutions, digitalization, debt management, and pension reform.
“These are precisely the reforms our development partners, analysts, and policy experts have long identified as vital for Pakistan’s sustainable future,” Aurangzeb concluded.
Read more on NEO TV | Voice of Pakistan
