Pakistan’s economy shows signs of stabilization with inflation on a downward trend, the Minister of Finance Muhammad Aurangzeb said on Saturday, crediting recent political decisions to restore confidence.
Addressing the merchants of the Lahore Chamber of Commerce, Aurangzeb said that the recent reduction in the central bank policy has played a central role in promoting economic recovery.
“The economy is heading in the right direction,” he said. “We are committed to supporting industry and guaranteeing that investors receive all the necessary facilities. The concerns of the business world must have priority. ”
He added that industrial growth was essential for sustained economic stability and that the government’s economic team focused on productivity by contribution costs and lower structural reforms.
Aurangzeb said that the government was also working to ensure that the benefits of the drop in inflation had been transmitted to citizens.
“We closely monitor the prices of essential products to ensure that ordinary humans feel relief,” he said.
The Federal Minister of Finance has also announced that 24 public companies will be privatized and that tax relief will be granted to employees, who, according to him, support a disproportionate tax burden.
“The Prime Minister personally directs economic renewal. You will soon see the results,” he said. He identified minerals and the computer sector as potential game changes for the economy of Pakistan.
Aurangzeb said that Pakistan copper reserves could provide similar advantages to Singapore nickel exports, which are worth $ 22 billion per year. He noted that obstacles to repatriation of profits for foreign investors had been removed, which strengthens investors’ confidence.
“We make sure that the advantages of reduced inflation reach ordinary man,” he said. “Intermediaries will not be allowed to exploit the system.”
