During the World Economic Forum (WEF) session in Riyadh, Aurangzeb took the opportunity to share his insights, focusing on the government’s initiative to provide cash assistance to impoverished women in Pakistan. He expressed a concern voiced by these women, who highlighted instances where male family members appropriated the cash intended for them.
Recognizing the need for a more secure and equitable distribution system, Aurangzeb stated the women’s desire to receive financial support through digital wallets, which could potentially alleviate such challenges.
Echoing his sentiments from previous discussions, Aurangzeb reiterated his confidence in the government’s strategies to bolster the economy. He pointed to the tangible progress evidenced by increased tax revenues and a reduction in the current account deficit. These developments, he asserted, signify positive momentum towards economic stability and growth.
Addressing attendees at the Business Summit 2024 in Islamabad, the finance minister acknowledged the indispensability of the government’s collaboration with international partners, particularly the International Monetary Fund (IMF). He stressed that, despite the absence of a viable alternative plan, negotiations for a new staff-level agreement with the IMF are underway, with anticipated completion by June or July.
Furthermore, the minister highlighted the constructive impact of government interventions on tax collection and overall economic performance.
Despite encountering obstacles, he remained optimistic about the nation’s economic trajectory, attributing much of the progress to initiatives such as the IMF’s ongoing nine-month program.
In a notable revelation, Aurangzeb disclosed a significant increase in the State Bank’s reserves, which surged from $3.4 billion to $8 billion over the past year. This substantial augmentation acknowledges the efficacy of governmental measures and collaborative efforts in fortifying Pakistan’s financial stability.
