By News Desk
Copyright thedailycpec
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, delivered the keynote address at the Pakistan Business Summit at Serena Hotel, Peshawar, today. The summit, organised under the Governor of Khyber Pakhtunkhwa’s patronage and themed “Shaping What’s Next,” brought together policymakers, business leaders, and corporate executives to discuss Pakistan’s economic outlook, innovation, and global competitiveness.
Government Drives Private Sector Growth
Senator Aurangzeb praised the organisers for creating a high-profile platform in Peshawar. He stated that the government is committed to enabling the private sector to lead economic growth. Furthermore, he emphasised that the government will maintain macroeconomic stability, implement structural reforms, and create a business-friendly ecosystem.
Economic Developments Boost Investor Confidence
The Finance Minister highlighted several positive economic trends. Policy rate cuts have lowered financing costs. Exchange rates have remained stable, and foreign exchange reserves now cover almost three months of imports. These steps strengthened investor confidence and helped repatriate profits. Remittances reached USD 38 billion last year and could rise to USD 41–43 billion this fiscal year. Pakistan also repaid USD 500 million in Eurobond obligations in September. It is prepared for the USD 1.3 billion repayment due in April 2026.
Structural Reforms and Export-Led Strategy
Aurangzeb outlined key structural reforms, including tax reforms separating policy from administration, state-owned enterprise restructuring, privatisation, and energy pricing adjustments. He also highlighted Pakistan’s export-led growth strategy. Tariff reforms on raw materials and intermediate goods aim to attract efficient foreign direct investment (FDI). Recent engagements in Beijing, Riyadh, Washington, and New York, along with 24 joint venture agreements with Chinese companies, reflect renewed investor confidence. Additionally, the Finance Minister announced Pakistan’s plan to issue its first-ever Panda Bond before year-end, opening access to China’s deep capital markets.
Sustainable Growth and Long-Term Development
The Finance Minister stressed that sustainable growth depends on private sector dynamism, competitiveness, and stronger federal-provincial coordination. He urged the efficient use of the Rs. 4.3 trillion national development budget for infrastructure, education, and health. Moreover, he warned that long-term challenges like climate change, population growth, child stunting, and learning poverty are critical to Pakistan’s productivity and global leadership.
Commitment to Recovery and Resilience
Concluding his address, Senator Aurangzeb stressed that the government will continue guiding Pakistan toward sustainable economic recovery, global competitiveness, and resilience. He reaffirmed that reforms aim to deliver tangible benefits to the people.
