Finance Minister Muhammad Aurangzeb said Pakistan inflation had previously been brought down to single digits but increased amid the economic impact of the Iran-US conflict. He made the remarks while addressing an event in Karachi.
Aurangzeb said Pakistan’s major economic indicators were showing positive trends. He also highlighted Federal Board of Revenue performance, saying the FBR had achieved its September target as well as its first-quarter collection target.
The finance minister said the country’s economic direction was improving and moving towards sustainable stability. He also expressed confidence that Pakistan’s credit rating could reach B+ by the end of the year.
Aurangzeb said the government was working on new areas of the economy, including artificial intelligence and Web3. He added that comprehensive planning was underway to promote investment and create more opportunities for businesses.
According to the minister, foreign companies were showing interest in investing in Pakistan. He said investors from Türkiye and Saudi Arabia were also exploring opportunities in the country, while the government was providing facilities to encourage investment. Official government reporting has also highlighted investment, productivity and exports as key economic priorities.
The finance minister also called for dialogue to promote political stability, saying economic activity suffers when the country faces disruptions. He said one day of economic stoppage could result in a loss of Rs120 billion, while urging stakeholders to resolve differences through discussion.
Aurangzeb further said salaried and corporate sectors could not continue carrying the burden alone and stressed the need for stronger enforcement. He also said foreign exchange reserves were at a level equivalent to around three months of imports, while Pakistan inflation remained under pressure amid regional developments. Official data showed September inflation at 10.3%, after 11.1% in August.
