ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb has said that a strong capital market is essential for economic stability and sustainable development, while the private sector will play a key role in national growth.
Addressing a ceremony of the Capital Market Development Fund in Islamabad, Muhammad Aurangzeb said that the government’s primary focus is on stabilizing the current account and ensuring financial discipline under all circumstances.
He stated that the government aims to further strengthen cooperation with international financial institutions to stabilize the financial system. He added that reforms in the energy sector are also underway, with special focus on solar, wind, and hydropower generation.
The finance minister reaffirmed that fiscal discipline, economic stability, and promotion of the private sector remain top priorities of the government.
Regional tensions and global impact
Expressing concern over regional developments, he said he hopes the ongoing conflict between the United States and Iran ends soon to reduce negative impacts on the global economy.
He added that Pakistan’s leadership is actively working to reduce regional tensions, while emphasizing the need for a cautious and balanced approach in the current situation.
Economic direction and stability
Muhammad Aurangzeb said that government efforts are focused on controlling the current account and fiscal deficit, adding that economic indicators are gradually improving and the economy is moving in the right direction despite difficult conditions.
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He stressed that the capital market plays a vital role in economic growth and noted that Pakistan’s stock market has shown resilience despite challenges.
He said regional instability serves as an important lesson to protect the economy from external shocks.
Energy reforms and self-reliance
The finance minister said that a rapid shift towards alternative energy sources is the need of the hour and self-reliance has become essential for economic stability.
He added that commercial decisions should be made independently and in the national interest, while greater focus is being placed on raising capital from domestic resources.
Muhammad Aurangzeb said that encouraging local investment and motivating investors to invest within the country is essential, adding that reliance on internal resources is crucial for strengthening the national economy.
