Islamabad: At the groundbreaking ceremony of the Securities and Exchange Commission of Pakistan’s new headquarters, Minister for Finance, Muhammad Aurangzeb expressed the government’s commitment to continue pushing for economic stability through a series of structural reforms.

According to Ministry of Information and Broadcasting, Minister Aurangzeb highlighted recent positive assessments from Fitch and the State Bank of Pakistan, which included a cut in the policy rate, as clear indicators of the nation’s growing macroeconomic stability. He reiterated the dedication of Prime Minister Shehbaz Sharif and his economic team to sustain and deepen these gains.

The Minister emphasized the critical role of structural reforms to secure the Extended Fund Facility from the International Monetary Fund (IMF). He noted that a Staff Level Agreement has been signed with the IMF and is set for final approval by the IMF Board.

In his address, Aurangzeb detailed the need for comprehensive reforms across various sectors including taxation, energy, and state-owned enterprises (SOEs). Particularly noteworthy was the decision by the Cabinet Committee on SOEs to transition all public sector insurance companies to private ownership, underscoring a move to increase private sector involvement in national development.

He also spoke on enhancing the efficiency and transparency of capital markets and the necessity of gearing the economy towards export-led growth and attracting foreign direct investment to avoid financial imbalances. The Minister called on the Securities and Exchange Commission of Pakistan to safeguard public interest by ensuring that markets remain fair, transparent, and accountable.