ISLAMABAD: Pakistan’s economy has demonstrated resilience and stability despite the challenging geopolitical conditions and ongoing regional tensions, Finance Minister Muhammad Aurangzeb announced during a joint news conference with Minister for Petroleum Ali Pervaiz Malik.

According to Radio Pakistan, Aurangzeb highlighted that the country’s Large-Scale Manufacturing sector experienced an 11 percent year-on-year growth in April, and cumulative growth for the first nine months of the fiscal year was 6.5 percent. He expressed confidence that GDP growth would near four percent in the current fiscal year, an increase from last year’s 3.1 percent.

Aurangzeb emphasized the strong performance of the external sector, noting a nine percent month-on-month and 14 percent year-on-year increase in exports. He attributed this growth to contributions from sectors such as value-added textiles and information technology. Workers’ remittances remained robust, with significant inflows reported for April. The Roshan Digital Account initiative also saw increased inflows, which Aurangzeb described as a “strong vote of confidence” by overseas Pakistanis.

The Finance Minister also announced Pakistan’s successful re-entry into international capital markets, raising 750 million dollars through Eurobonds and planning to access Chinese capital markets via a Panda Bond issuance. He projected that foreign exchange reserves would reach around 15 billion dollars, providing three months of import cover.

Addressing recent fuel price adjustments, Aurangzeb assured the public of the government’s commitment to protecting vulnerable population segments, extending targeted subsidies to specific groups. Minister for Petroleum Ali Pervaiz Malik noted efforts to maintain fuel supplies despite high international oil prices, with assistance from Saudi Arabia and Kuwait.

Both ministers reassured the public of the government’s dedication to economic stability and energy security, while expressing optimism for regional peace and stability.