Finance Minister Muhammad Aurangzeb engaged in discussions with senior officials from Mashreq Bank and First Abu Dhabi Bank in Dubai, focusing on enhancing financial and economic cooperation.
Aurangzeb urged the bankers to reconsider their willingness to provide financing for Pakistan, highlighting significant improvements in the country’s economic fundamentals.
On the other hand, Finance Minister Muhammad Aurangzeb mentioned that the progress of the China-Pakistan Economic Corridor (CPEC) projects has been slow in recent years, but there are ongoing efforts to speed up revenue generation in the second phase of the multi-billion-dollar initiative.
In an interview with a foreign media outlet in Washington, Aurangzeb noted that Pakistan’s economy showed signs of improvement even before securing a new loan from the International Monetary Fund (IMF). He pointed to the stability of the Pakistani rupee and a declining trend in inflation rates.
Aurangzeb highlighted that Pakistan’s Information Technology (IT) sector has reached a value of $3.4 billion, with the potential to grow to $4.5 to $5 billion in the next year. He also said the agricultural sector is recovering from the impact of recent floods, but the industrial sector faces difficulties due to high energy costs and interest rates.
