The government intends to boost exports by up to $60 billion: FinMin

ISLAMABAD (APP) Senator Muhammad Aurangzeb, the federal minister of finance and revenue, said on Tuesday that growing the country’s exports from $30 billion to $60 billion over the next five years is critical for the country’s long-term economic viability.

The finance minister stated that great progress has been accomplished in the previous 12 months as a result of the government’s sensible economic policies aimed at growing the economy.

Muhammad Aurangzeb stated this during an interview. The minister stated that the administration has made critical steps to cut inflation and interest rates, resulting in economic stability in the country.

The government has stabilized its foreign exchange reserves, and the privatization process will be hastened, he added.

He stated that the reform process in government institutions would continue, and right-sizing is being implemented to decrease government institution losses.

The finance minister stated that proper size will drastically lower government spending, adding that the administration has met its economic objectives through economic reforms.

Prime Minister Muhammad Shehbaz Sharif desires long-term and stable economic growth, and the government has now handled the twin deficit, with the current account deficit and budget deficit both in surplus.

Aurangzeb stated that by cutting government spending, the public is prioritizing welfare, and Pakistan can now play a significant role in fostering commerce.

He continued: “We want to increase Pakistan’s trade partnership in the region and the regional trade Promotion is the top priority of the government.”