Lahore, Finance Minister Muhammad Aurangzeb today highlighted significant improvements in Pakistan’s economic landscape, including a rise in foreign currency reserves to over nine billion dollars and growing confidence among foreign investors, attributing these gains to the government’s sound economic policies. Speaking at a pre-budget conference in Lahore, Aurangzeb detailed the positive shifts in the national economy, including a strengthening rupee and decreasing inflation rates.
According to Ministry of Information and Broadcasting, Aurangzeb emphasized the necessity for structural reforms to reduce the current account and budget deficits. He pointed out that while the salaried class is already included in the tax net, there is a pressing need to integrate the business community more effectively into this system. The Finance Minister also declared a move towards a more documented economy as part of broader fiscal reforms.
Aurangzeb stated that the government’s role is primarily in policy formation, with the expectation that the private sector will lead in implementation, playing a crucial part in navigating the economy through challenging times. Additionally, he underscored the importance of privatization as a tool for achieving economic stability.
The arrival of the International Monetary Fund (IMF) team in Pakistan was also noted, with upcoming discussions expected to further influence the country’s economic strategies.