Pakistan’s economy is recovering and stabilising, says Information Minister

ISLAMABAD: In a press conference held today, Federal Information Minister Attaullah Tarar highlighted Pakistan’s successes on both the diplomatic and economic fronts.

He reported on the Prime Minister Shehbaz Sharif’s recent conversations with the Prime Ministers of Norway and Ireland, emphasising that both countries have adopted a strong stance regarding the Middle East situation.

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“Norway and Ireland have condemned the ongoing atrocities in Gaza and Rafah and are calling for a ceasefire,” said Tarar. He noted that PM Shehbaz shared Pakistan’s position during these discussions, reiterating the country’s longstanding support for Palestinian rights. “There can be no peace in the world without peace in Gaza,” he asserted, underscoring Pakistan’s call for a ceasefire and peaceful resolution in Palestine.

“The Prime Minister raises his voice for Palestine at every international forum. Steps are necessary for a lasting solution to the Palestinian issue,” he added.

On the economic front, the Information Minister highlighted efforts to promote trade and investment. He announced that under the Special Investment Facilitation Council (SIFC), a one-window operation is ongoing to attract global investors. Seven dedicated desks have been established in key regions, including China, Qatar, UAE, Saudi Arabia, the European Union, the United States, and the Far East.

“The UAE’s official press agency has released news of a $10 billion allocation for Pakistan. Significant progress has also been made in $5 billion investment negotiations with Saudi Arabia,” Tarar revealed. He assured that agreements are nearing completion and will soon be finalised.

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Additionally, the Prime Minister is scheduled to visit China in the coming days to address concerns of Chinese citizens and advance issues related to the China-Pakistan Economic Corridor (CPEC).

The Information Minister also provided updates on Pakistan’s economic indicators. “The current account deficit has reduced, IT exports have increased, and inflation has come down. Foreign exchange reserves have also seen a positive increase,” he said. International financial journals and institutions are indicating that Pakistan’s economy is stabilising and recovering, he added.