Aurangzeb says current account surplus was a little over USD1b in March this year
\n Islamabad
\nFinance Minister Muhammad Aurangzeb on Tuesday said Pakistan\u2019s economic growth will be about four per cent this fiscal year while speaking at the EU-Pakistan High Level Business Forum in Islamabad, according to Radio Pakistan.
\nHe noted that this represents a significant improvement over the previous fiscal year, adding that the country has been consolidating gains in terms of macroeconomic indicators.
\nAurangzeb mentioned that our current account surplus was a little over one billion dollars in March this year, expressing satisfaction over IT exports, the positive trajectory of value-added segments, as well as an increase in remittances.
\nHe added that the country\u2019s foreign exchange reserves are expected to reach around $18 billion by the end of June, providing an import cover of three months.
\nAlso addressing the forum, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan underscored that the European Union remains Pakistan\u2019s largest export destination, with the GSP Plus framework playing a pivotal role in expanding market access and improving standards.
\nUnder the GSP+ scheme, eligible countries are required to implement 27 international conventions covering human rights, labour rights, environmental protection, and good governance. In exchange, the European Union reduces import duties to zero on more than two-thirds of the tariff lines applied to its exports. Pakistan is currently one of eight countries that benefit from this scheme.
\nHowever, Khan stressed that the future of this partnership lies beyond trade, focusing on investment, technological collaboration, and integration into global value chains.
\nHe pointed to vast opportunities across sectors, including mining, tourism, renewable energy, agriculture modernisation, pharmaceuticals, logistics, and infrastructure. He particularly emphasised the untapped potential of regions such as Gilgit-Baltistan, Khyber-Pakhtunkhwa and Balochistan, rich in natural resources and investment prospects.
\nInviting European partners to explore Pakistan\u2019s tourism sector, he noted the country\u2019s unique blend of natural beauty and cultural heritage, offering high-value investment opportunities.
\nThe forum, scheduled for April 28-29, serves as a major platform to deepen trade and investment cooperation and to bring together a large number of participants, including government representatives, business leaders, and institutional stakeholders from Pakistan and across the EU.<\/p>\n","protected":false},"excerpt":{"rendered":"
Aurangzeb says current account surplus was a little over USD1b in March this year Islamabad Finance Minister Muhammad Aurangzeb on Tuesday said Pakistan\u2019s economic growth will be about four per cent this fiscal year while speaking at the EU-Pakistan High Level Business Forum in Islamabad, according to Radio Pakistan. He noted that this represents a […]<\/p>\n","protected":false},"author":2,"featured_media":543581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-543555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n