ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb has said that Pakistan’s economy is moving towards improvement, emphasizing that structural reforms are essential to achieve sustainable economic growth.
Addressing the Pakistan-European Union Business Forum, he stated that the country is on the path to economic stability, with key indicators showing positive trends.
The minister highlighted that remittances have been steadily increasing, with $3.8 billion recorded in March, compared to the usual monthly average of around $3.2 billion. He attributed the rise to increased inflows during Ramadan and Eid.
He added that $260 million was received through Roshan Digital Accounts in March, with further growth expected in April. On average, monthly investments through these accounts range between $180 million and $200 million, reflecting growing confidence among overseas Pakistanis.
Mr Aurangzeb said that the economic growth rate is expected to reach around 4 percent in the current fiscal year, while debt servicing costs are likely to remain below the targeted level. He noted that Eurobond repayments have been completed, along with payments to another international partner.
The minister also said the government is advancing its privatization programme, claiming that Pakistan International Airlines has been successfully privatized, while the privatization of Lahore and Islamabad international airports is being fast-tracked.
He further stated that large business groups are showing interest in investing through consortiums, while reforms have been introduced in debt management and the pension system. A contributory pension scheme for the armed forces is also expected to begin next year.
Highlighting emerging sectors, he revealed that Pakistan has around 40 million crypto users, and a regulatory framework for digital assets has been introduced. Licenses for crypto exchanges are being issued, along with the introduction of tokenization mechanisms.
The finance minister said the government aims to increase foreign exchange reserves to $18 billion by June, terming it a key milestone towards economic stability.
