FinMin seeks investment at WEF

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has invited global stakeholders to invest in Pakistan's priority sectors, including agriculture, IT, renewable energy, and pharmaceuticals. In an exclusive article published during the World Economic Forum (WEF) annual meeting, Aurangzeb outlined Pakistan's transformative economic journey. He highlighted efforts toward stabilisation and growth, which have begun to yield positive results. Aurangzeb recalled the severe fiscal and monetary challenges upon assuming office in 2024, when inflation had surged to 38%, foreign exchange reserves barely covered two weeks of imports, and GDP growth had plummeted to 0.2%. Devastating floods and the compounded effects of COVID-19 inflicted over $30 billion in damages, further testing the country's resilience. Recognising the urgency, the government implemented decisive reforms, including exchange rate stabilisation, tighter fiscal policies, and targeted monetary interventions. With support from the International Monetary Fund (IMF)'s $7 billion facility, structural improvements were initiated in critical sectors like energy and taxation.