Pakistan charts path toward an export-led future

October 27, 2025 (MLN): Pakistan’s economy has moved from stabilization to recovery, with inflation dropping from 23% to 4.5% and the tax-to-GDP ratio showing steady improvement, as the government shifts focus toward achieving long-term, export-led growth.

Addressing a press conference, State Minister for Finance Bilal Azhar Kayani said the government’s economic reforms had strengthened macroeconomic stability and laid the foundation for sustained expansion.

He emphasized that the next phase of the government’s agenda centers on sustainable, private sector–driven growth to ensure resilience and job creation, APP reported.

Kayani said the privatization process was progressing steadily, noting that the privatization of the First Women Bank had been successfully completed, while Pakistan International Airlines (PIA) was next in line.

He shared that Prime Minister Shehbaz Sharif recently held an extensive meeting with business leaders to gather recommendations for a comprehensive export-led growth strategy.

Following these consultations, the government formed specialized working groups focused on income tax, customs tariff, energy, agriculture, ports, railways, and industry.

To enhance private sector engagement, the minister said that the chairmanships of these working groups had been assigned to private sector representatives whose recommendations would be presented directly to the Prime Minister.

He added that the government aims to make agriculture a key export sector, while major infrastructure projects like the Main Line-1 (ML-1) railway are targeted for completion by 2028.

Kayani noted that reforms were underway to improve the investment climate and rationalize the National Tariff Commission, with policy consistency and regulatory ease as key priorities.

He said the government’s efforts had brought down energy costs from Rs 38 to Rs 23 per unit for additional consumption, reduced interest rates, and expanded access to finance.

“The direction is clear lowering costs, improving ease of doing business, and enabling sustainable growth, investment, and employment opportunities,” he concluded.

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