Assuring that all possible steps will be taken to accelerate the country’s journey towards renewable energy
Finance Minister Muhammad Aurangzeb speaks during a Reuters interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, DC, US, April 25, 2025. Photo: Reuters/ File
Finance Minister Muhammad Aurangzeb said on Wednesday that the government is committed to achieving its economic targets. Radio Pakistan reported.
He was speaking at the signing ceremony of the Capital Market Development Fund (CMDF), organized by the Securities and Exchange Commission of Pakistan in Islamabad.
The Minister of Finance confirmed fulfilling the obligations entered into with international institutions for the current financial year. He expressed satisfaction that despite the conflict between the US and Iran, Pakistan has been able to tap the international capital markets after a gap of four years.
He said this shows the trust and confidence of international and institutional investors in Pakistan. The finance minister described the launch of the capital market development fund as a milestone, saying it reflects the collective will to deepen, expand and modernize the capital markets in Pakistan.
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He mentioned that over two hundred and twenty thousand investors have entered the stock market over the past two years.
He said twenty-four thousand new investors entered the market in April, the highest number ever recorded in a single month. He also said that the government is working to provide an ecosystem for the private sector to lead the country on the economic front.
The finance minister also assured that all possible steps will be taken to accelerate the country’s journey towards renewable energy.
On May 3, he led a virtual meeting with presidents and CEOs of commercial banks, along with their chief information security officers (CISOs), to improve cyber security preparedness across Pakistan’s financial sector in light of new technological risks and evolving threat dynamics.
The Minister of Finance appreciated the active engagement of financial institutions, regulators and technical experts and emphasized the importance of a coordinated effort to protect critical financial infrastructure. He emphasized that as Pakistan’s financial ecosystem continues to digitize, strengthening cyber resilience must remain a key policy priority.
On April 28, FinMin said Pakistan’s economic growth will be around 4% this fiscal year. Speaking at the launch of the EU-Pakistan High Level Business Forum in Islamabad, he noted that this represented a significant improvement over the previous financial year, adding that the country was consolidating gains in terms of macroeconomic indicators.
Read more: Finance Minister Aurangzeb says the economy will grow by around 4% this fiscal year
Aurangzeb mentioned that the current account surplus was a little over one billion dollars in March this year, expressing satisfaction with IT exports, the positive trajectory of value-added segments as well as an increase in remittances.
He added that the country’s foreign exchange reserves were expected to reach about $18 billion by the end of June, providing import coverage for three months.
