Prime Minister Shehbaz Sharif has called for a shift from economic stabilisation to sustainable growth, job creation, technological development and export promotion, saying Pakistan has restored macroeconomic stability through coordinated efforts.
Addressing the Gong Ceremony for the listing of the Naya Nazimabad Apartment REIT Scheme at the Pakistan Stock Exchange, the prime minister highlighted rising foreign exchange reserves, remittances and IT exports as signs of improving economic conditions.
He said Pakistan’s recent $3 billion Eurobond attracted bids worth $6 billion, while SBP reserves had reached around $21.4 billion and commercial banks held about $5.5 billion.
PM Shehbaz stressed the need to improve productivity, modernise industries and strengthen exports, while expressing concern over industries that had remained dependent on subsidies and protective tariffs.
Finance Minister Muhammad Aurangzeb said private-sector participation was gaining momentum, with Rs340 billion mobilised for housing finance and Rs60 billion disbursed. He added that the number of tax filers had risen to more than 5.7 million from 3.9 million last year.
Businessman Arif Habib said Pakistan’s return to international capital markets had attracted strong investor interest, while sovereign ratings, foreign exchange reserves and remittance inflows had improved.
