Islamabad — Pakistan’s economy is gradually moving away from a consumption- and debt-driven model toward export-led and sustainable growth, Finance Minister Muhammad Aurangzeb said, signalling what he described as a crucial turning point for the country’s economic future.
Addressing a gathering, the finance minister noted that Pakistan has started to witness macroeconomic stability after a challenging period marked by high inflation, external pressures and fiscal imbalances. He said the government’s focus is now firmly on long-term structural reforms rather than short-term fixes.
According to Aurangzeb, key economic indicators are showing improvement, including declining inflation, rising foreign exchange reserves and better external account management, all of which are helping restore investor confidence. He stressed that policy continuity and disciplined reforms are essential to sustain this momentum.
The finance minister said the government aims to shift the economy from a consumption-led and import-heavy structure to one driven by exports, productivity and competitiveness. In this regard, sectors such as information technology, textiles, agriculture and value-added manufacturing have been identified as critical engines for future growth.
He further highlighted that reforms are underway in taxation, energy pricing, tariffs and state-owned enterprises, which have long weighed down economic performance. Simplifying tax regimes, reducing red tape and creating a business-friendly environment for exporters remain top priorities, he added.
Aurangzeb acknowledged that challenges still exist but maintained that the direction of economic policy is now clear. “Sustainable growth will only be possible if exports expand, productivity improves and structural weaknesses are addressed,” he said, adding that international institutions and investors are gradually regaining confidence in Pakistan’s economy.
Economic observers believe that if reforms remain consistent and political stability is maintained, the shift toward export-led growth could help Pakistan reduce its reliance on external borrowing and build a more resilient economy in the coming years.
This story has been reported by PakTribune. All rights reserved.