Aurangzeb highlights economic improvement, urges continued reforms

According to Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, the government’s actions are causing macroeconomic gains in Pakistan.

He emphasised the Monetary Policy Committee’s decision to lower interest rates by 2.5% while speaking at the 8th Edition of the Future Summit on Wednesday at a nearby hotel. He also mentioned that the nation is on track to accomplish its financial goals for the first four months of the fiscal year. There has been a notable decline in food inflation, and the Karachi Interbank Offer Rate (KIBOR) is at 13%.

The Minister underlined that remittances have helped to stabilise the native currency, and that Pakistan’s current account and fiscal deficit have stayed steady. Inflation has also decreased, and foreign exchange reserves have strengthened.