ISLAMABAD: Finance Minister Muhammad Aurangzeb says Pakistan’s reform momentum and economic liberalization can set the stage for an “East Asia moment” for country’s economy.
In an interview with CNBC, he underlined the steady progress Pakistan has made toward macroeconomic stability over the past year, emphasizing improvements across key indicators including currency stability, foreign exchange reserves, inflation, and policy rate alignment.
He noted that the recent upgrades by all three major global rating agencies validate the country’s economic trajectory and reform agenda.
The Minister said Pakistan’s current reform drive is rooted in a balanced approach that links macroeconomic stability with deep structural transformation.
Discussing the next phase of Pakistan’s growth journey, he said the government is determined to break away from the historical cycle of boom-and-bust by shifting from an import-led to an export-led growth model. He highlighted the introduction of an ambitious tariff rationalization regime aimed at enhancing industrial competitiveness, reducing costs of raw materials and intermediate goods, and supporting the export sector.
Explaining Pakistan’s policy stance in the context of global trade dynamics, Muhammad Aurangzeb said Pakistan’s focus is on fostering competitiveness rather than protectionism. He added that government’s priority is to enable industries to compete, grow, and export instead of continuing to shield industries indefinitely.
The Finance Minister acknowledged the strong partnership with the United States and commended the World Bank Group for supporting Pakistan’s reform efforts.
He reaffirmed Pakistan’s commitment to sustaining reform implementation, strengthening resilience, and positioning the country on a sustainable, outward-looking growth path.
