US EditionPakistan's Future Lies in Partnerships, Not Aid: Finance Minister
Pakistan aims to boost trade and investment with Gulf Cooperation Council countries while remittances reached $38 billion last year, supporting economic stability and reform efforts.
- This year, Finance Minister Muhammad Aurangzeb said Pakistan is shifting from aid-dependent support toward trade- and investment-led engagement with Gulf Cooperation Council countries.
- This year, all three major credit rating agencies upgraded Pakistan's ratings and the International Monetary Fund approved the second EFF review, while inflation fell from a 38 percent peak to single digits.
- Tax reforms have raised revenue and aim to widen the base as tax-to-GDP rose from 8.8% to 10.3% last fiscal year with plans toward 11%, while AI-enabled production monitoring and energy distribution companies and tariff reforms target leakages and competitiveness.
- Pakistan is actively courting GCC investment in priority sectors including energy, artificial intelligence, and digital infrastructure, while primary surpluses and foreign-exchange reserves improve to around 2.5 months of import cover.
- Fostering trade and investment is presented as the route to sustainable growth, with remittances reaching approximately USD 38 billion last year and projected USD 41-42 billion this year, Aurangzeb said.
11 Articles
11 Articles
Pakistan's future lies in partnerships, not aid: finance minister
Federal Finance Minister Muhammad Aurangzeb has said Pakistan’s future lies not in aid but in partnerships based on trade and investment. Foreign direct investment in productive sectors would not only boost GDP but also create employment opportunities and generate shared economic benefits for Pakistan and its partners. Speaking in an interview with CNN Business Arabia, the minister said that over the past 18 months, Pakistan has implemented a co…
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Pakistan Times TodayPakistan shifting away from aid to trade with GCC countries: FinMin
Inflation drops to single-digit from 38% peak.Primary surpluses and reserves strengthen external buffers.Ratings agencies upgrade Pakistan's outlook this year.Finance Minister Muhammad Aurangzeb has that said Pakistan is shifting...
Pakistan shifts focus from Aid to Trade: Aurangzeb
F.P. Report ISLAMABAD: Finance Minister Muhammad Aurangzeb has said Pakistan is shifting focus from Aid to Trade and Investment for sustainable growth and mutually beneficial partnerships particularly with the Gulf countries. In an interview with CNN Business Arabia, he underscored that this strategic shift, clearly articulated by the Prime Minister, reflects Pakistan’s renewed economic confidence and reform momentum. Muhammad Aurangzeb acknowle…
Pakistan shifts from aid to trade, eyes strong GCC partnerships
Pakistan is moving away from aid-dependent support towards trade and investment-led economic engagement, particularly with Gulf Cooperation Council (GCC) countries, Finance Minister Muhammad Aurangzeb said in an interview with CNN Business Arabia. Aurangzeb described the strategic shift, aligned with Prime Minister Shehbaz Sharif’s vision, as a reflection of Pakistan’s growing economic confidence and ongoing reform momentum aimed at long-term su…
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