National economy heading towards export led development: FM

ISLAMABAD
Finance Minister (F.M) Muhammad Aurangzeb has said national economy has come out of mere stability and is heading towards export led development.
“Pakistan has reached a significant economic phase. Macro economic stability sustained reforms and continuation of policy have led to restoration of both domestic and international investor trust. he said this In an interview with the US-based publication USA Today.,
Giving clear message to international community he said Pakistan is ready for trade, investment and partnership.
Pakistan has entered into journey of opportunities and change after coming out of crisis, he added.
The Finance Minister noted that, for the first time in several years, Pakistan has achieved both a primary fiscal surplus and a current account surplus, signaling a decisive shift away from the cycle of recurring deficits.
He said strong remittance inflows have played a critical role in supporting this turnaround, while inflation has fallen sharply from a peak of 38 percent to single-digit levels. Foreign exchange reserves have risen to over 14.5 billion dollars and the exchange rate has remained stable, helping to restore investor confidence.
He added that reforms in the tax system, energy sector, and state-owned enterprises are progressing, while privatization and tariff rationalization will further enhance Pakistan’s competitiveness in global markets. According to Aurangzeb, the World Bank’s proposed “East Asia Moment” strategy could serve as a roadmap for boosting export-based development.
The finance minister identified agriculture, mining, and the digital economy as priority investment sectors, noting that the Reko Diq copper belt has emerged as a major attraction for international investors.
He said that Pakistan is moving beyond crisis management toward an opportunity-driven economy, ready for trade and investment.
He highlighted that Pakistan is aligning its economic strategy with changing global demand patterns, identifying information technology services, textiles and agricultural exports as key areas with strong potential.
He noted that IT exports have already crossed four billion US dollars and could double within five years with sustained regulatory clarity and infrastructure development. Efforts are also underway to simplify tax regimes for exporters and reduce bureaucratic hurdles in order to foster long-term productivity and competitiveness.
He said modern technology can bring a mammoth change for Pakistan. Regulatory framework is being built on modern lines under this purpose. Particularly US investment is being encouraged.