ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb led a pivotal meeting aimed at steering the country towards an export-driven economic model with a strong emphasis on foreign direct investment. The high-level meeting, attended by senior officials from the State Bank of Pakistan, the Pakistan Banks Association, and key banking representatives, focused on aligning financial sector priorities with the government’s economic strategy.
The Minister highlighted the crucial role of banks in promoting export-oriented growth. He stressed the government’s commitment to facilitating foreign direct investment that supports the creation of exportable surplus in key sectors. The recent Pakistan Minerals Summit was noted for showcasing domestic investor interest in high-value projects, which, according to the Minister, enhances international confidence in Pakistan’s economic path.
A significant development highlighted was Maersk Line’s commitment to investing $2 billion in Pakistan’s maritime and port infrastructure. This reflects the increasing importance of trade corridors and the dynamics of international markets. The Minister called upon the banking and financial sectors to unlock and expand opportunities, particularly in logistics, trade facilitation, and industrial support.
To ensure policy alignment with economic realities, the Minister announced that the budget process had been moved forward this year. He personally engaged with various chambers of commerce to gather proposals and feedback, aiming for a budget rooted in realistic and sustainable growth objectives. Emphasizing macroeconomic stability as a foundation, he cautioned against short-term gains and highlighted the need for sustainable, investment-led growth.
Earlier, Mr. Zafar Masud, Chairman of the Pakistan Banks’ Association, presented the status of support provided by banks for agriculture, small and medium enterprises, and digital technology sectors. The presentation outlined initiatives like electronic warehouse receipt finance and schemes for efficient energy and water use.
Concluding the meeting, the Minister called for coordinated efforts among banks, policymakers, and investors to maintain momentum and translate policy stability into tangible economic transformation. He stressed the importance of providing credit to smallholder farmers through fintech solutions, in line with the Prime Minister’s vision, to bolster a resilient economy.