Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Monday said that Pakistan\u2019s economic direction had been set right through a series of structural reforms, which were now being operationalized to ensure sustainable and inclusive growth.
\n\u201cI believe there is a broad consensus that we have made significant inroads and achieved considerable progress in terms of macroeconomic stability,\u201d he said while addressing a joint news conference on economic reforms.
\nHe was accompanied by Federal Minister for Power Awais Ahmad Khan Leghari, Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja and and Adviser to the Prime Minister on Privatisation Muhammad Ali.
\nAurangzeb said the government had achieved macroeconomic stability, backed by external validation as three leading international rating agencies upgraded Pakistan after a gap of three years. \u201cThese agencies are now aligned not only on where we stand but also on our positive outlook,\u201d he added.
\nHe said the successful completion of the second IMF review and the subsequent staff-level agreement in Washington reaffirmed that the country\u2019s economic trajectory was on the right path.
\n\u201cWhen the exchange rate stabilizes, foreign exchange reserves rise, inflation declines, and the policy rate comes down, the benefits are evident for industries,\u201d the minister remarked, adding that investors had repatriated more than four million dollars in profits and dividends.
\nAurangzeb said investor confidence was crucial for attracting new foreign direct investment (FDI). \u201cUntil our existing investors are satisfied, we cannot talk about further FDI,\u201d he said, adding that the government had moved in the right direction toward stability.
\nHighlighting the next phase of economic management, the finance minister said Pakistan must now focus on avoiding historical boom-and-bust cycles and move toward sustained and inclusive growth. \u201cAlhamdulillah, Pakistan today stands at a unique confluence of economic stability and favorable geopolitical tailwinds,\u201d he said, pointing to stronger trade and investment opportunities with China, the United States, and GCC countries.
\nHe stressed that structural reforms were indispensable for achieving sustainable growth.
\nThe minister said the government\u2019s reform agenda covered key areas including taxation, energy, restructuring of state-owned enterprises (SOEs), privatization, rightsizing of the federal government, digital transformation, debt management, and pension reforms.
\n\u201cThese are the areas consistently highlighted by analysts, think tanks, and our bilateral and multilateral partners,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Monday said that Pakistan\u2019s economic direction had been set right through a series of structural reforms, which were now being operationalized to ensure sustainable and inclusive growth. \u201cI believe there is a broad consensus that we have made significant inroads and achieved considerable progress in terms […]<\/p>\n","protected":false},"author":2,"featured_media":465104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-512340","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n