Indicators show positive trends: Aurangzeb

Federal Minister for Finance and Revenue Muhammad Aurangzeb has emphasised that Pakistan has achieved macroeconomic stability and all economic indicators are showing positive trends.

He said that the country was going through a phase of economic stability and the government would put it on the path of sustainable growth with a solid foundation. The minister stated this while speaking at the inaugural ceremony of the Buna-Raast Connectivity Project Implementation Phase on Thursday.

Aurangzeb pointed out that all economic indicators including foreign currency reserves, workers' remittances, policy rate, exchange rate, revenue receipts and trade and current account deficits were indicating a positive trajectory, adding that foreign investors were showing confidence in Pakistan's economy.

"We now have two months of import cover and the exchange rate is stable. For the last two months, foreign companies and potential investors have been expressing interest in pouring investment in different sectors of the economy," he said.

The minister stressed that the government was working on digitisation of the economy as well as giving priority to documentation.

He attributed the receipt of $3 billion in workers' remittances in July 2024 to the prudent policies, reforms and administrative measures undertaken by the government. He added that the government prioritised tax and energy reforms while other structural reforms were in the offing to achieve sustainable economic growth. The minister also called the Buna-Raast Connectivity Project an exemplary partnership between Pakistan and Saudi Arabia, which would be a huge source of legal transactions and help develop a digital economy.