Islamabad: Federal Minister of Finance and Revenue Muhammad Aurangzeb on Sunday expressed hope that by 2047, the size of the country’s economy will reach $3 trillion, which currently stands at $300 billion.
Under the leadership of Prime Minister Muhammad Shehbaz Sharif, the government has shown economic discipline and introduced economic reforms, and now the country’s economy has stabilized, Federal Minister for Finance and Revenue Muhammad Aurangzeb said in a televised message.
The minister said that there is a need for an economic charter and an environmental charter in the country, and improving the environment and controlling the population are among the main challenges for the country at this time.
The minister said the government is committed to building on the hard-won macro stability to further strengthen the country’s economy.
The government’s wise economic policies led to reducing inflation from 38% to only 7% and the interest rate from 22% to 15%, while foreign exchange reserves rose from two weeks of covering imports to two and a half months of covering imports.
The minister said that the international community, financial institutions and rating agencies praised the government’s efforts in leading the country’s economy from deficits to surpluses.
Talking about the recent visit of the IMF delegation to Pakistan, he said that it is an ongoing dialogue process and discussions were held on energy reforms, state-owned enterprises, privatization agenda, and public finances.
He said that such interactions and discussions are vital for credibility and mutual trust.
Muhammad Aurangzeb said: We have shared with the International Monetary Fund our commitment to improving the performance of the federal government.
Regarding revenues and taxes, he said that the government was firm in commitment and implementation, and every sector would have to play its due role in this regard.
The Minister of Finance also asked all political parties, media and other stakeholders to cooperate in developing pacts on the environment and economy to ensure a safe and healthy future for future generations.