Prime Minister says Pakistan must move beyond stabilisation towards technology, productivity, employment and export-driven growth.
KARACHI: Prime Minister Shehbaz Sharif has called for Pakistan to shift from economic stabilisation towards sustainable growth, job creation, technological development and export promotion, saying the country has achieved macroeconomic stability through coordinated efforts.
Addressing the Gong Ceremony at the Pakistan Stock Exchange (PSX) virtually on Thursday, the prime minister praised the federal and provincial governments, financial institutions and economic teams for navigating recent economic challenges. He said international financial institutions had acknowledged Pakistan’s progress on structural reforms and improvements in the investment environment.
Shehbaz credited Finance Minister Muhammad Aurangzeb, the Federal Board of Revenue (FBR), cabinet members, federal secretaries and other stakeholders for their role in restoring macroeconomic stability.
Highlighting economic indicators, he said Pakistan had raised $3 billion through a Eurobond against offers of $6 billion, while State Bank of Pakistan foreign exchange reserves stood at around $21.4 billion and commercial banks held about $5.5 billion. He also pointed to rising remittances, IT exports and activity through Roshan Digital Accounts.
The prime minister said the next phase should focus on technology, employment, productivity, production and exports. He referred to incentives in the 2026–27 budget for exporters, manufacturers, industry and construction.
He also called for modernisation of the stock exchange and capital markets and urged industries receiving subsidies and tariff protection to improve productivity and competitiveness.
Finance Minister Aurangzeb said the government was working to strengthen fiscal discipline and shift borrowing towards non-bank sources and retail investors. He also said reforms were being examined to expand capital markets, including through venture capital, Sukuk and REITs.
Aurangzeb said private-sector participation was gaining momentum, with Rs340 billion mobilised for housing loans and Rs60 billion disbursed. He added that the number of tax filers had increased to more than 5.7 million from 3.9 million a year earlier.
Business leader Arif Habib said international investors were monitoring Pakistan, citing improved sovereign ratings, currency stability and foreign exchange reserves.