Islamabad: Pakistan's Finance Minister Muhammad Aurangzeb has announced that the nation's economic growth is projected to reach about four percent this fiscal year. Addressing the EU-Pakistan High Level Business Forum held in Islamabad, he highlighted that this marks a notable improvement compared to the previous fiscal year.
According to Radio Pakistan, the Finance Minister emphasized the consolidation of gains in macroeconomic indicators. He reported that Pakistan's current account surplus exceeded one billion dollars in March, expressing satisfaction with the progress in IT exports, the advancement of value-added segments, and an increase in remittances. Aurangzeb also projected that the country's foreign exchange reserves would reach approximately eighteen billion dollars by the end of June, providing an import cover for three months.
During the forum, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan highlighted the European Union as Pakistan's largest export destination. He noted that the GSP Plus framework has been crucial in expanding market access and enhancing standards. Khan emphasized that the future of the Pakistan-EU partnership should extend beyond trade to focus on investment, technological collaboration, and integration into global value chains.
Khan identified numerous opportunities in sectors such as mining, tourism, renewable energy, agriculture modernization, pharmaceuticals, logistics, and infrastructure. He drew attention to the untapped potential in regions like Gilgit-Baltistan, Khyber Pakhtunkhwa, and Balochistan, which are abundant in natural resources and ripe for investment. Inviting European partners to explore Pakistan's tourism sector, Khan underscored the country's unique combination of natural beauty and cultural heritage as offering lucrative investment opportunities.
