Islamabad, October 10,2024- Pakistan’s Finance Minister, Muhammad Aurangzeb, has said that the country is now in an excellent position on the economic front and continues to work on improving economic reforms.
Speaking at the Pakistan-Saudi Arabia Business Forum in Islamabad, the finance minister emphasized the importance of private sector partnerships in stabilizing the economy. He credited Prime Minister Shehbaz Sharif’s leadership for bringing economic stability to the nation.
Aurangzeb highlighted key improvements, including a significant reduction in the current account deficit, an increase in foreign exchange reserves, and a strengthening of the Pakistani rupee. Additionally, he pointed out that the inflation rate has dropped to a single digit, currently standing at 6.9%. He expressed optimism that further reductions in interest rates would stimulate economic activities.
He also mentioned that the Pakistan Stock Exchange has reached record highs, the current account deficit has decreased, and the currency has stabilized. Foreign investors have received timely payments, and the country’s credit rating has improved. Over the past 14 months, Pakistan has focused on macroeconomic stability, and today, the indicators reflect this success. The finance minister stressed that the government’s role is not to run businesses but to facilitate an environment conducive to business growth.
