Finance Minister outlines six economic priorities at OICCI

Federal Finance Minister Senator Muhammad Aurangzeb told members of the Overseas Investors Chamber of Commerce and Industry in Karachi that Pakistan's economy is on a positive path. He said durable growth must be driven mainly by private companies, while the state focuses on building a supportive climate for business and investment. The OICCI discussion also covered ways to attract more international investors, according to a press release that Mettis Global reported.

Aurangzeb laid out six priorities: lasting macroeconomic stability, a move from stabilisation to inclusive growth, continued structural reforms, a redirection of external ties from assistance toward commerce and capital flows, broader credit access, and readiness for the new digital economy. He cited the PIA transaction, in which several large domestic business groups pooled efforts and raised nearly US$1.2bn. On foreign interest, he said investors are increasingly looking at mining, technology, farming, petroleum and refinery modernisation, while Turkish interest extends to the privatisation of power distribution firms.

Reforms in tax, energy, state enterprises, privatisation and public finance have moved from planning to execution, he said. The tax filer count now exceeds 5.7mn, against roughly 3.9mn a year earlier and about 1.8mn to 1.9mn in 2022. So far Rs60bn has been financed under the Apna Ghar Programme, and banks have cleared a sizeable further pipeline. He added that deeper capital markets are needed so domestic savings can fund infrastructure, housing and private expansion.