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Govt enabling private sector to lead Pakistan toward progress: Aurangzeb


Aurangzeb at the Asian Financial Forum 2025

HONG KONG: Finance Minister Senator Muhammad Aurangzeb on Monday reaffirmed the government’s unwavering commitment to providing a stable policy framework and continuity, enabling the private sector to lead the country toward progress and prosperity.

He was delivering his keynote speech in the plenary session, “Innovation: The Solution to Unlock the Next Growth Engines” at the Asian Financial Forum 2025.

He shared his insights as a distinguished speaker on leveraging innovation to drive economic growth and prosperity and highlighted the transformative power of innovation in shaping the future of economies, particularly within Asia’s evolving financial landscape.

The minister stressed the importance of adopting innovative approaches, technologies, and business models to unlock new growth opportunities, enhance competitiveness, and address emerging challenges in the global economy.

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He also emphasized the significance of learning from Hong Kong as a leading financial center, particularly in the use of AI and blockchain technology.

Senator Aurangzeb elaborated on Pakistan’s dedication to fostering a culture of innovation, entrepreneurship, and technological advancement to propel the country toward sustainable development and inclusive growth.

He underlined the government’s role in creating an enabling environment for innovation and collaboration to drive economic progress and meet societal needs.

Earlier, in an interview to Bloomberg on the sidelines of the Asian Financial Forum, the minister said, “The country [Pakistan] is very keen, to tap the Panda bonds and the Chinese capital markets…We have been remiss as a country not to tap it previously.”

China International Capital Corporation is advising Pakistan on the issuance of Panda bonds, Aurangzeb said.

He added that the IMF, which is scheduled to visit Pakistan next month, wants Pakistan to broaden its tax base and reach a tax-to-GDP ratio of 13.5%, from 10% in December. “We are well on our way to achieve that target, not only because the IMF is saying that but because from my perspective the country needs to get into that benchmark to make our fiscal situation sustainable.”

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