KARACHI – Finance Minister Muhammad Aurangzeb said on Wednesday Pakistan is moving on path of economic stability due to prudent policies introduced by the government.
Addressing 8th edition of future summit in Karachi, the minister said decrease in current account deficit, increase in remittances, stabilization of rupee and decrease in policy rate clearly indicate that national economy is moving in right direction.
Muhammad Aurangzeb said owing to steps taken by government, inflation has decreased from thirty-eight percent to single digit.
He said short and medium term policies are being put in place to make the national economy sustainable.
He also stressed the need for reforms in government institutions to ensure transparency, control loopholes and take benefit of technological advancements in this regard.
He also stressed on changing the “DNA of the economy” to yield long lasting results.
Meanwhile, Prime Minister Shehbaz Sharif described the recent reduction in policy rate by the State Bank of Pakistan as an important development for the businesses, industry, agriculture and exports. He expressed the confidence that the people will now invest their money which will create job opportunities and enhance exports. He said this will also reduce the burden of debt and provide a fiscal space.
The Prime Minister said the business community will be encouraged to strengthen the economy.
