KARACHI: Finance Minister Muhammad Aurangzeb has said the government is focusing on economic stability, fiscal discipline and boosting exports to achieve sustainable economic growth.
Addressing the National SDGs Investment Fair, the minister said the government had a key role to play in promoting investment and creating an environment conducive to responsible and sustainable economic growth.
He said economic policies would have to take global economic conditions into account, adding that the positive impact of government measures was becoming visible in the form of lower inflation.
“Economic stability is a fundamental requirement,” Aurangzeb said, stressing the need for the government and private sector to work together to promote investment and economic growth.
He said greater participation by domestic investors would help attract foreign investment to the country.
The finance minister noted that Pakistani business groups were increasingly joining hands to form consortia. He said five initial public offerings (IPOs) had been conducted at the Pakistan Stock Exchange over the past three months, while 11 IPOs were held during the last fiscal year — the highest level in two decades.
Aurangzeb also highlighted the need for greater international support to address the impact of climate change. He said Pakistan was not receiving sufficient assistance through climate loss and damage funds and required increased access to global climate financing.
He stressed the need to strengthen institutional capacity to bring climate-related projects in line with international standards.
“Along with what and why, climate projects need to focus on how and who,” the minister said, emphasising the importance of understanding and monitoring climate risks in development projects.
