Economic indicators improving, investment returning to Pakistan: Aurangzeb

Karachi (Web Desk): Finance Minister Muhammad Aurangzeb said Monday that while there is space to lower interest rates, the decision solely rests with the State Bank of Pakistan (SBP). The central bank last cut the policy rate to 11% in May and has since held it steady, citing inflation and external risks.

Speaking to journalists in Karachi, Aurangzeb said Pakistan’s economy is stabilizing due to structural reforms, with economic indicators showing improvement. He noted that $2.3 billion in profits were repatriated by multinational firms in the past fiscal year, signaling restored investor confidence.

The minister urged banks to support the revival of struggling industries and actively engage in the privatisation process. He also announced a simplified tax return form for salaried individuals and small businesses, now available on the FBR website.

Later, during a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI), Aurangzeb encouraged investment in key sectors like agriculture, IT, and minerals. He assured the business community of a transparent and predictable economic environment, adding that bold reforms are essential for sustained growth.