ISLAMABAD: Pakistan’s economic growth is projected to reach approximately four percent for the current fiscal year, as announced by Finance Minister Muhammad Aurangzeb. This marks a notable improvement over the previous fiscal year, highlighting progress in the country’s macroeconomic stability.

According to Radio Pakistan, the Finance Minister conveyed these projections during his address at the EU-Pakistan High Level Business Forum held in Islamabad. He detailed the country’s consolidation of macroeconomic gains, reporting a current account surplus of over one billion dollars in March. Aurangzeb expressed satisfaction with the positive trajectory of IT exports, value-added segments, and an increase in remittances. Additionally, he projected that Pakistan’s foreign exchange reserves will reach around eighteen billion dollars by the end of June, ensuring an import cover for three months.

At the same forum, Haroon Akhtar Khan, the Special Assistant to the Prime Minister on Industries and Production, emphasized the significance of the European Union as Pakistan’s largest export destination. He highlighted the role of the GSP Plus framework in enhancing market access and standards. Khan urged a shift in focus towards investment, technological collaboration, and integration into global value chains as the future of the EU-Pakistan partnership. He identified opportunities across various sectors, including mining, tourism, renewable energy, and infrastructure, particularly in regions such as Gilgit-Baltistan, Khyber Pakhtunkhwa, and Balochistan, which are rich in natural resources and investment potential. Khan also invited European partners to explore Pakistan’s tourism sector, citing the country’s unique natural beauty and cultural heritage as attractive investment opportunities.