Pakistan

Finance Minister Aurangzeb Optimistic About Economic Recovery, Foresees $35 Billion Remittances by Year-End

Islamabad:Federal Finance Minister Muhammad Aurangzeb** has expressed confidence that the business community’s trust in Pakistan’s economy is increasing. He forecasted that **remittances** would exceed **$35 billion** by the end of the current financial year.

Speaking at a meeting of the **Economic Coordination Committee (ECC)**, Minister Aurangzeb highlighted that the country was on track to achieve significant milestones in economic stability. He mentioned that Pakistan would soon have **foreign exchange reserves** equivalent to **three months of exports**, and the positive impacts of **macroeconomic stability** would soon be visible in the real economy.

He also pointed out that Pakistan’s **current account surplus** was at its highest level in **10 years**, and inflation had dropped to a **6-year low**. These developments, he said, were crucial for the country’s economic recovery and long-term growth.

Addressing concerns about rising food prices, the finance minister emphasized that the government was taking the **increase in food prices** seriously. Despite a global decrease in the prices of **chicken**, **lentils**, and **fuel**, prices of **lentils** and other essential food items were rising locally. According to Aurangzeb, the main culprits behind this price surge were **middlemen**, who were exploiting supply chains and increasing costs.

In a statement following the **ECC meeting**, it was mentioned that the reduction in the prices of essential goods, such as **flour**, **chili**, **diesel**, **petrol**, **lentils**, **onions**, and **sugar**, had provided much-needed relief to the public.

The **Ministry of Finance** also stressed the need for **sustained efforts** to maintain economic stability. In particular, investments in **agriculture**, **manufacturing**, and **infrastructure** would be ramped up to ensure long-term growth and job creation.

Minister Aurangzeb’s remarks reflect the government’s focus on stabilizing the economy and addressing inflationary pressures while encouraging investment across key sectors.

Related News

Back to top button