Pakistan to double exports in next 3-5 years

February 18, 2025 (MLN): Pakistan to double its exports in the next 3 to 5 years, with current exports totaling approximately $30 billion.

This was stated by Finance Minister Muhammad Aurangzeb during an interview with Asharq and Bloomberg on the sidelines of the AlUla Conference for Emerging Market Economies 2025.

The GCC region presents substantial export potential, with Pakistan already making significant contributions, particularly in sectors such as mining, agriculture, and IT services.

Moving forward, both investment and trade will be key drivers of growth, he added.

Regional corridors and trade connectivity are becoming increasingly important.

In Pakistan’s case, China has been a crucial corridor, especially with respect to the Belt and Road Initiative.

Over the past 12 to 14 months, Pakistan has made considerable progress in terms of macroeconomic stability, Muhammad Aurangzeb further noted.

The inflation story has seen notable improvements, along with policy rate adjustments, higher foreign exchange reserves, and a stable currency.

As a result, institutional flows have returned. This macroeconomic stability is being leveraged to implement structural reforms, focusing on taxation, energy, and state-owned enterprises.

The aim is to privatize these enterprises and reduce the size of the federal government to strengthen public finances.

Looking forward, the government is committed to ensuring that growth is sustainable under the leadership of the Prime Minister.

For sustainable growth, prudent fiscal management is essential. Pakistan aims to avoid repeating past issues with twin deficits.

Currently, the country is in a surplus position both in the current account and the primary account, the Finance Minister added.

"The focus now is on consolidating gains, utilizing available fiscal space, and prioritizing expenditures that will support and enhance the growth trajectory in the years to come", he noted.

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