Finance Minister Muhammad Aurangzeb has said that the pace of reforms can place Pakistan on a path of sustainable and export-led development.
Speaking during his visit to Washington for the World Bank and IMF annual meetings, the minister described the upgrade by global rating agencies as recognition of Pakistan’s economic stability. He identified reform and export-oriented development as priorities for the government.
In an interview with a foreign broadcaster, he said Pakistan is focusing on enhancing competitiveness, adding that the new tariff regime is expected to support industrial growth and reduce the cost of raw materials.
He pointed to visible improvements in key indicators, including currency, foreign exchange reserves and inflation. He made it clear that reforms are in progress in areas such as taxation, energy, public institutions and finance.
The minister described the reform process as a blend of stability and structural change, which, he added, could become Pakistan’s “East Asia moment”. He said the country has shifted from an import-driven model towards an export-oriented economy.
Aurangzeb also acknowledged strong cooperation with the World Bank and a robust partnership with the United States.
