Islamabad (Commerce Desk): Federal Finance Minister Muhammad Aurangzeb has said that Pakistan’s economic situation is better than before and that the improvement process is continuing during the current fiscal year as well.
In a virtual address to the Leaders in Islamabad Business Summit, Muhammad Aurangzeb said that an improvement in large-scale industrial production has been recorded, while a significant increase in remittances is supporting the current account and IT exports are also continuing to grow.
According to the Finance Minister, Pakistan is moving from dependence on aid toward trade- and investment-based relations. Promoting trade and investment ties with bilateral partners is among the priorities, while attention is also being given to attracting investors and expanding trade relations.
Muhammad Aurangzeb said that Pakistan has adopted a clear path toward export-led economic growth. Exporters are being provided refinancing facilities at a rate of 4.5%, while despite the policy rate being 11.5%, they are receiving refinancing at a rate of 4.5%.