PM Shehbaz urges private sector to lead export-driven economic growth

Speaking at the listing ceremony of Naya Nazimabad Apartments REIT on the Pakistan Stock Exchange, Prime Minister Shehbaz Sharif questioned why sectors long supported by state subsidies have not lifted exports in any real way. He called on the private sector to drive growth, The Express Tribune reported.

Sharif said incentives for construction in the budget were beginning to yield results, and Karachi's building activity was also picking up. He cited tax breaks worth Rs2.3 trillion and said exporters must play an effective role in sustained growth. Finance Minister Muhammad Aurangzeb, at the same event, projected growth of 4 per cent in 2027, up from 3.7 per cent last year.

Aurangzeb said a faster, consumption-led expansion could reach 6 per cent in the short term, but it would strain external payments and return the economy to a boom-and-bust cycle. Habib said 12 more REITs are expected to list on the PSX in the near future, with four currently listed. He also cited a dividend yield of 5.4 per cent on the PSX, which he said led the region.