Lahore: The Government of Pakistan is focusing its economic strategy on ensuring macroeconomic stability, implementing structural reforms, and promoting growth led by the private sector, as stated by Khurram Schehzad, Adviser to the Finance Minister, during a seminar in Lahore.

According to Press Information Department, Mr. Schehzad addressed key stakeholders, including economists and corporate leaders, outlining the country’s economic recovery and the policy frameworks in place to support long-term growth. He emphasized the transition from economic contraction to stability, noting improvements in GDP growth, agricultural output, manufacturing, and the services sector. Fiscal management has reduced the deficit and contained debt, while foreign reserves have increased significantly.

Mr. Schehzad highlighted the containment of the current account deficit and inflation, as well as the growth of foreign exchange reserves without accumulating external debt. He attributed this to increased inflows through digital accounts and strong IT export performance. Structural reforms include privatization efforts, tax administration improvements, and energy sector reforms aimed at fostering competition.

The government is encouraging private investment with fiscal measures and credit expansions, while supporting export competitiveness through tax relief and reduced energy tariffs. Future strategies include comprehensive industrial and tax policies to enhance manufacturing competitiveness and provide policy predictability.

Addressing social concerns, Mr. Schehzad noted increased support for social safety nets and emphasized the importance of private enterprise and industrial efficiency for sustainable job creation and poverty reduction.