ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has stated that Pakistan has now established itself as a secure and attractive destination for international investment.
In a television interview, the Minister pointed to significant economic progress, noting that the country is now “standing on our own feet” and can manage its own relief and rescue operations. While he indicated a willingness to accept grants for reconstruction, he emphasised that any loans taken would be repaid responsibly.
Mr. Aurangzeb highlighted several positive economic indicators, including a $4 billion improvement in the economic backdrop over two years and the arrival of 95,000 new investors to the Pakistan Stock Market. He also mentioned strong interest from UAE-based companies.
However, the Minister issued a major warning about the threat posed by climate change. He revealed that this year’s floods caused severe damage, predominantly in Punjab, and have negatively impacted the nation’s GDP growth. He cautioned that without addressing climate vulnerabilities and a growing population, the national goal of building a $3 trillion economy could be at risk.
On the topic of tax reform, the Minister reported a 100% increase in tax collection from wholesalers and retailers, with additional recoveries from the sugar, cement, and tobacco sectors. He credited technology for helping to reduce corruption, a success that has attracted international attention, including from Egypt’s finance ministry.
Also read: Aurangzeb says IMF conditions aligned with Pakistan’s national interests
Looking ahead, Mr. Aurangzeb announced a policy shift towards deregulating key commodities. The government is attempting to deregulate sugar prices and plans to announce a full deregulation policy for wheat by 2026, which would remove inter-provincial transport bans.
