LONDON: Addressing the “Pakistan Access Day” conference in London, Finance Minister Muhammad Aurangzeb said Pakistan is on the path of economic stability and the government’s target is to take the GDP growth rate to 6 percent.
He informed us that the primary budget surplus in the first half of the fiscal year 2025 was Rs 3.6 trillion, while the inflation rate has come down to 0.3 percent in April, which is the lowest level in the last decade.
The finance minister further said that the global rating agency Fitch has upgraded Pakistan’s credit rating from triple C+ to negative B, which reflects the confidence in Pakistan in the international market.
Mentioning the “Five Eases Framework” of the government, he informed us that it includes exports, e-Pakistan (IT), environment and climate change, energy and infrastructure, and equity, ethics, and sovereignty. Under this framework, the government aims to increase exports to $50 billion, bring inflation down to 6 percent, and establish a $5 billion ICT freelancing industry.
The finance minister further informed that the government is committed to reducing greenhouse gas emissions by 50 percent, and more than 160 regulatory reforms have been undertaken to provide an investment-friendly environment. He said that business permits are being digitally simplified through the Pakistan Business Portal, and citizens of 126 countries can get e-visas in 24 hours.
On the occasion, Adviser on Privatization Muhammad Ali said that the privatization of public institutions through a transparent and competitive process is underway, and global investors have expressed confidence in Pakistan.
