Islamabad: Federal Finance Minister Muhammad Aurangzeb revealed that Pakistan is transitioning into a phase of economic expansion after attaining macroeconomic stability, thanks to extensive reforms that have spurred remarkable advancements.
During a conversation with USA Today, Aurangzeb shared insights into how economic restructuring has revived confidence among local and international stakeholders. He emphasized a strategic pivot towards export-driven growth to reduce reliance on external borrowing, signaling a transformative shift in Pakistan’s economic trajectory.
The finance minister outlined key achievements, including securing both a primary budget surplus and a current account surplus. Inflation has seen a dramatic decline from 38 percent to single digits, while foreign exchange reserves have climbed beyond $14.5 billion. Aurangzeb stated that exchange rate stabilization has played a critical role in restoring investor trust.
Despite these developments, he acknowledged that the 2.7 percent growth rate, while encouraging, falls short of addressing Pakistan’s broader economic objectives. He elaborated on ongoing reforms targeting taxation, energy, and state-owned enterprises to fortify foundational economic principles.
Aurangzeb further underscored the robust performance in IT exports, which have exceeded $4 billion and are projected to potentially double within five years. He highlighted privatization initiatives and tariff adjustments as mechanisms to boost Pakistan’s global competitiveness. Referencing the World Bank, he expressed optimism about Pakistan experiencing an “East Asia–style moment” if reform momentum persists.
In his remarks, he stressed the role of women’s education and expanded female participation in the workforce as vital components for sustained development. Climate change was flagged as another pressing concern requiring coordinated global action.
Aurangzeb also highlighted lucrative investment possibilities in agriculture, mineral resources, and the burgeoning digital economy. He noted heightened international interest in Balochistan’s Reko Diq copper and gold project, alongside growth opportunities in sectors such as artificial intelligence, data centers, and digital services.
Pakistan is positioning itself as an attractive destination for trade and investment, signaling the nation’s emergence from crisis towards a thriving opportunity-driven economy.
