Pakistan enters stable economic phase with export-led growth: Aurangzeb
Finance Minister says global investors' confidence restored: Inflation falls from 38% to single digit: IT exports exceed $4 billion: Agri, mining, digital economy are priority investment sectors: Pakistan is heading to opportunity-driven economy
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said that Pakistan has entered a stable economic phase with focus laid on export-led growth, due to major improvements driven by wide-ranging reforms, reported 24NewsHD TV channel on Wednesday.
In an interview with USA Today, Senator Aurangzeb stated that consistent economic policies have helped restore both domestic and international investor trust. As a result, Pakistan has recorded a primary budget surplus and a current account surplus for the first time in several years, reflecting improving macroeconomic fundamentals, he added.
Aurangzeb highlighted that inflation, which had surged to nearly 38 percent, has now dropped to single digit, while foreign exchange reserves have crossed $14.5 billion.
Stability in the exchange rate has helped rebuild investor confidence, he said and added these indicators demonstrate the success of ongoing fiscal and monetary reforms.
He noted that Pakistan’s economy is now shifting toward export-led growth rather than dependence on external borrowing.
The minister emphasized that the government is transitioning the economy away from a consumption-driven model toward an export-oriented growth framework. He noted that Pakistan’s IT exports have already exceeded $4 billion and are expected to double within the next five years.
He added that reforms in the tax system, energy sector, and state-owned enterprises are progressing, while privatization and tariff rationalization will further enhance Pakistan’s competitiveness in global markets.
According to Aurangzeb, the World Bank’s proposed “East Asia Moment” strategy could serve as a roadmap for boosting export-based development.
The minister identified agriculture, mining, and the digital economy as priority investment sectors, noting that the Reko Diq copper belt and gold project have emerged as a major attraction for international investors, while sectors such as data centres, artificial intelligence, and digital services hold significant growth potential.
Aurangzeb said that Pakistan is moving beyond crisis management toward an opportunity-driven economy, ready for trade and investment.
The minister emphasized the importance of women’s education and increased female participation in the labour force for sustainable development. He also identified climate change as a major challenge, stressing the need for global cooperation.
“Pakistan is ready for trade and investment,” the finance minister said, adding that the country’s journey from crisis to an opportunity-driven economy has begun.