Federal Finance Minister Muhammad Aurangzeb has underlined notable improvements in Pakistan’s economic outlook, attributing the progress to the government’s carefully crafted policies aimed at fostering stability and strengthening investor confidence.

Addressing a press conference in Karachi, Aurangzeb said the economy was gradually gaining momentum, with concrete measures in place to bring down the circular debt burden.

He noted that key economic indicators had improved during the current fiscal year, while authorities were engaging with banks to revive dormant industrial units and expand credit to the private sector.

He called on private banks to join hands with investors to help restart struggling industries and unlock growth potential.

Discussing developments in the capital markets, the minister pointed out that the stock exchange had continued its upward trend, with the benchmark KSE-100 index surpassing the 136,000 mark a milestone he said demonstrated rising investor optimism.

Aurangzeb also shared details of structural reforms underway at the Federal Board of Revenue.

He explained that fresh measures to curb sales tax fraud had been incorporated into the Finance Bill and had received full parliamentary backing.

Under the new framework, any fraud exceeding Rs50 million could trigger action based on recommendations by the commissioner and approval from the FBR board.

He added that the government was simplifying tax return forms to make compliance easier for salaried individuals.

Despite limited fiscal space, he said, authorities had extended as much relief as possible and were committed to introducing further facilitation.

Highlighting progress on the investment front, Aurangzeb revealed that foreign investors had repatriated $2.2 billion in dividends during the last fiscal year, with another $2.3 billion transferred more recently.

He emphasised that longstanding issues related to letters of credit had been resolved and procedures for profit repatriation streamlined, a development he described as encouraging for prospective investors.

The finance minister commended the performance of Pakistan’s pharmaceutical sector, noting that it was steadily stabilising.

He said prices of essential food items were being monitored closely each month, although some fluctuations were inevitable.

Aurangzeb also underscored the government’s focus on fiscal discipline, pointing out that spending had been significantly reduced.

He added that the prime minister was personally overseeing the performance of all ministries.

Addressing the concerns of traders and overseas Pakistanis remained a priority, he said, while the banking sector would play a pivotal role in upcoming privatisation efforts.

In the end, Aurangzeb expressed optimism about Pakistan’s financial trajectory.

He voiced confidence that investors, banks, and all other stakeholders would help transform the current stability into lasting, sustainable growth.