PM Shehbaz urges focus on exports and technology-driven growth

Prime Minister Shehbaz Sharif has called for Pakistan to move beyond macroeconomic stabilisation towards sustainable growth, job creation, technological development and export promotion. He was speaking at the gong ceremony marking the listing of the Naya Nazimabad Apartment REIT Scheme at the Pakistan Stock Exchange.

According to the prime minister, Pakistan has restored macroeconomic stability through coordinated efforts. He pointed to rising foreign exchange reserves, remittances and IT exports as evidence of improving conditions, and said Pakistan's recent $3 billion Eurobond attracted bids worth $6 billion. He said SBP reserves had reached around $21.4 billion, while commercial banks held about $5.5 billion.

PM Shehbaz stressed the need to improve productivity, modernise industries and strengthen exports, while expressing concern over industries that had remained dependent on subsidies and protective tariffs.

Finance Minister Muhammad Aurangzeb said private-sector participation was gaining momentum, with Rs340 billion mobilised for housing finance and Rs60 billion disbursed. He added that the number of tax filers had risen to more than 5.7 million from 3.9 million last year.

Businessman Arif Habib said Pakistan's return to international capital markets had attracted strong investor interest, while sovereign ratings, foreign exchange reserves and remittance inflows had improved.