Pakistan economy on path to recovery, GDP growth expected at 4%: Finance Minister

Federal Minister for Finance Muhammad Aurangzeb has said that Pakistan’s economy is moving towards stability and improvement, with the country’s GDP expected to remain around 4% in the current fiscal year.

Addressing the EU-Pakistan Business Forum, the finance minister said that macroeconomic stability has been achieved in the country. He highlighted that Pakistan recorded a current account surplus of over $1 billion in March, while remittances stood at $3.8 billion during the same month.

He further stated that the Roshni Digital Account has become an important source of investment, attracting $260 million in March alone. He also noted that Pakistan successfully managed major external payments in April, including the issuance of a $750 million Eurobond. In addition, the government plans to issue a $250 million Panda Bond by mid-May.

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Muhammad Aurangzeb said that Pakistan’s economic indicators are improving and foreign exchange reserves are expected to reach $18 billion by the end of June. He added that the government is actively pursuing its privatization agenda, including the successful privatization of Pakistan International Airlines (PIA).

He also revealed that major business groups are showing interest in investing in Pakistan through consortiums. The privatization of Lahore and Islamabad international airports is also being prioritized.

On pension reforms, the finance minister said that a contributory pension system for the armed forces will be introduced from next year. He added that a regulatory framework for cryptocurrency has been introduced, and crypto exchanges are being licensed, while tokenization in digital assets is also being developed.

He further stated that Pakistan managed energy supplies effectively during the global energy crisis, and the continuation of the ceasefire in the Middle East is a positive development that supports global peace efforts.