Government policy is stabilizing the economy, private sector has to come forward, Finance Minister

Islamabad: Federal Finance Minister Muhammad Aurangzeb has said that the government policy is stabilizing the economy, now the private sector has to come forward.

Speaking at the opening ceremony of the Pakistan Saudi Investment Forum 2024 in the federal capital, Finance Minister Muhammad Aurangzeb said that economic reforms are the priority agenda of the government. Continuity in policies is indispensable for the stability of the economy. The private sector stepped forward to lead the country. Ministers and bureaucracy have to take a backseat.

He said that the government’s economic policies are succeeding, which is creating economic stability. For the last 10 years, the domestic currency has stabilized and the foreign exchange reserves are also gradually increasing. The government is serious about solving the energy problem and is taking steps in this regard. Increasing exports is very important, the government’s job is to create a policy framework.

Muhammad Aurangzeb said in his address that the government is constantly trying to promote foreign investment. The time has come for the private sector to take the front seat, the services of the Ministry of Finance are here to facilitate businessmen and investors.

The finance minister further said that we have to further increase the tax base, the government is carrying out the reform agenda in the energy sector as a priority after the economic reforms and the third part is the reforms in the government institutions. Doing business is not the government’s job, the privatization agenda is expected to be completed by the end of next month or July.

He said that we are going into the new IMF program and we are determined that this will be the last program for Pakistan. For this, first of all, increase in exports and foreign direct investment are indispensable. For this, the private sector and investors have to go with us. If we succeed in this, we will not need to go to any other funding program.