Islamabad: Mohammad Aurangzeb, Pakistan’s Federal Minister of Finance, underlined the government’s will to lower interest rates and inflation by means of forceful policy actions.
Mohammad Aurangzeb announced in an exclusive interview with foreign media the government’s ambitious ambition to double national exports from $30 billion to $60 billion over the next three to five years. He underlined notable development in the previous 12 to 14 months to help to stabilise the economy, notably increases in foreign currency reserves and quickening of the privatisation process.
“We are dedicated to apply structural reforms inside state-owned companies to improve performance and lower financial losses,” Mohammad Aurangzeb said. He underlined that the government is starting a “right-sizing” project meant to maximise resources and cut unneeded expenses.
The finance minister claims that this program would drastically cut government expenditure, therefore controlling the fiscal and current account deficits and redirecting them towards surplus. He underlined that cutting pointless spending will free the government to concentrate more on projects benefiting public welfare.
Emphasising Pakistan’s involvement in developing economic alliances, Mohammad Aurangzeb also revealed the strategic goal for increasing commerce in the area. Expanding our export base and opening fresh economic prospects depend on strengthening trade connections with regional partners, he pointed out.
With an emphasis on financial discipline, trade expansion, and investment-friendly policies to propel long-term development, the finance minister ended by reaffirming the government’s commitment to sustainable economic development.
