Islamabad: Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to sustainable and export-led economic growth. Speaking at a workshop titled “Reforms for a Modern and Growth-Friendly Tax System” held in Islamabad, he highlighted key developments and reforms aimed at stabilizing and growing the nation’s economy.

According to Radio Pakistan, Aurangzeb emphasized Pakistan’s economic trajectory, noting that the government is determined to avoid a boom-and-bust cycle. He pointed out that the fiscal deficit is at a 22-year low and that the country has achieved primary surpluses for three consecutive years. The Federal Board of Revenue’s tax-to-GDP ratio has risen from 8.8 percent to 10.3 percent, with tax revenues increasing by 40 percent over the past two fiscal years.

The finance minister underscored the importance of taxation as a critical component of the government’s structural reform agenda, which also includes reforms in energy, state-owned enterprises, privatization, public finance, pensions, and tariffs. He stressed the need for an effective tax administration system to support sustainable economic growth.

Aurangzeb also reported that Pakistan’s foreign exchange reserves have reached their highest level, covering approximately three months of imports. Jihad Azour, Director of the International Monetary Fund’s Middle East and Central Asia Department, acknowledged Pakistan’s progress toward macroeconomic stability and expressed the IMF’s commitment to supporting the country’s efforts to achieve stronger economic growth driven by a robust private sector.