FINANCE Minister Muhammad Aurangzeb, who surely deserves credit for bringing about a visible change in the economic landscape of the country, must also be appreciated for his frantic efforts to market Pakistan as an attractive destination for foreign investment. This is evident from a host of interviews he has so far granted to international media, speeches he delivered at regional and global forums and interaction with leadership, economic managers and leaders of public opinion during his visits abroad, establishing his credentials as a thorough professional and true Pakistani.
There are reasons to believe that the hard work of the Minister and his team will contribute a lot in changing negative perceptions and misperceptions about Pakistan as firm foundations have been laid for economic stability and growth through much-needed reforms and these achievements are being explained to the outside world in proper perspective. As before, this message was quite clear during the visit of the Minister to Hong Kong where he attended the Asian Financial Forum 2025 and interacted with various delegations and media-persons to brief them on main features of the economic policy of the country. The way he projected the positive image of Pakistan is in sharp contrast to the approach of some leaders in the past who tried to wash dirty linen in public (and that too abroad) by focusing on corruption and mismanagement as part of their domestic politics. It is an open secret that a Federal Minister played havoc with the future of the national flag carrier, the PIA, by making unscrupulous remarks about qualifications of its pilots. As against this, Finance Minister Muhammad Aurangzeb is urging prospective investors to visit Pakistan at the earliest as seeing is believing i.e. the ground situation in Pakistan is quite different than what is being propagated by some vested interests. He builds a case for the country by highlighting successful engagement with multilateral institutions, positive economic indicators, a big reduction in interest rates and possibility of further downward revision, stock market boom, practical plans to increase the tax-to-GDP ratio from existing 10 to 13.5% and potential of the country’s agriculture and IT sectors. He is also hammering the point that Pakistan is now prioritizing Gulf countries for foreign investment, while aiming to unlock greater trade potential with China, Bangladesh, Japan, South Korea, Singapore, Indonesia, Malaysia and Iran.
It has also signaled a willingness to normalize trade relations with India under specific conditions. The International Monetary Fund (IMF) Executive Board approved a three-year, $7 billion aid package deal for the country in September last year to enable the country to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth”. In July, global rating agency Fitch also upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to CCC+ from CCC on the back of the country’s deal, while Standard and Poor (S&P) maintained its rating of CCC+. The security issue is often highlighted by forces inimical to Pakistan and in this backdrop the Minister for Finance tells his audience that it is not as serious that you do not feel safe to visit Pakistan. He also emphasizes that Pakistan regularly hosts international conferences, which are attended by delegates from all parts of the globe. Similarly, foreign dignitaries also visit Pakistan frequently to exchange views on ways and means to enhance mutual collaboration and sign agreements for cooperation in different fields. To give an example, he pointed out that the President of Indonesia will be arriving in Pakistan for a three-day visit with his whole investment team towards the end of the month. We believe that perception about Pakistan can entirely change if other players, especially relevant ministers and our missions abroad also play an active role to promote a soft image of the country.
