Govt focused on export-led sustainable growth, private sector facilitation: finance minister

Finance Minister Muhammad Aurangzeb said Pakistan is pursuing reforms to support export-driven growth, improve tax collection and lower energy costs. Speaking in Lahore on Saturday, he cited projections of $5.5 billion in IT exports and $44 billion in remittances for the current fiscal year, while saying foreign exchange reserves covered over three months of imports.

Aurangzeb said reducing reliance on imports and improving productivity were important to avoid recurring balance-of-payments pressure. He also pointed to exporters’ financing at 4.5%, proposed electricity supply to industry at about Rs23 per unit, and measures to broaden the tax base. The minister said reforms and policy continuity would be important as the current IMF programme is due to end in October next year, and stressed that growth should generate jobs and reach the wider public.