Summary Finance Minister says Pakistan economy improving, GDP likely 4%, current account surplus, reserves to reach $18bn, digital economy focus, and tariff reforms underway
ISLAMABAD (Dunya News) - Finance Minister Muhammad Aurangzeb has said that Pakistan’s economy is moving towards improvement and the country is currently experiencing macroeconomic stability.
Addressing the Pakistan-EU Business Forum in Islamabad, he said that structural reforms are being implemented in the economic sector and stressed that reforms are essential for achieving sustainable growth.
He stated that GDP growth is expected to remain around 4 percent, while the current account posted a surplus of over $1 billion in March. Remittances stood at $3.8 billion during the same month, he added.
The minister said that the Roshan Digital Account continues to serve as an important investment channel, with $260 million received in March alone.
He further noted that Pakistan made significant external payments in April and issued a $750 million Eurobond. A plan is also in place to launch a $250 million Panda Bond by mid-May.
Muhammad Aurangzeb said foreign exchange reserves are expected to reach $18 billion by the end of June, which would be equivalent to three months of import cover.
He added that promoting the digital economy is a government priority, with Prime Minister Shehbaz Sharif chairing review meetings every two weeks on the matter.
The finance minister further said that tariff reforms are underway, including reductions in customs and regulatory duties. In the first year, duties on raw materials and intermediate goods have already been reduced.
He also highlighted ongoing reforms in the energy sector and efforts to reduce circular debt to strengthen overall economic stability.
