Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, affirmed the government’s dedication to structural reforms across key economic sectors during discussions with a group of investors from Barclays in Islamabad today. He emphasized the country’s ongoing commitment to energy, state-owned enterprises, privatization, taxation, and government rightsizing to solidify macroeconomic stability.
According to Press Information Department, Minister Aurangzeb outlined the recent policy measures and initiatives undertaken to reform the economy and provided an overview of Pakistan’s improved economic indicators such as reduced twin deficits, stable currency, and controlled inflation. He credited the success to the rigorous implementation of a nine-month IMF Stand-by Agreement, initiated under Prime Minister Shehbaz Sharif and sustained by the caretaker administration. This setup paved the way for an Extended Fund Facility to deepen these reforms.
The Minister also highlighted the clearance of significant financial backlogs, including Letters of Credit and payments of nearly $2 billion in profits and dividends to foreign investors. He remarked on the healthy state of Pakistan’s current account, bolstered by strong remittances and diverse export trends, particularly in IT and services as observed in recent months.
Further, Aurangzeb discussed the government’s strategy to reduce dependency on unfavorable loans by scrapping certain bank auctions, a move designed to stabilize borrowing rates and encourage private sector lending, particularly in agriculture, IT, and SMEs. The delegation from Barclays expressed appreciation for the comprehensive briefing and showed keen interest in exploring investment opportunities within Pakistan’s evolving economic landscape.