Federal Finance Minister Muhammad Aurangzeb, while addressing the Future Summit in Karachi, stated that Pakistan’s economy is moving in the right direction, though there is still a long journey ahead.

He emphasized the need to make the economy export-based to strengthen the country’s economic foundations. He described the rising population as a ‘bomb’ that has already exploded, according to a Radio Pakistan report today.

The Finance Minister highlighted that remittances are increasing, and foreign exchange reserves are stable. He also expressed the ambition to improve Pakistan’s credit rating this year. Furthermore, he mentioned that incentives given to industries would now be linked to specific targets, and the private sector needs to enhance its capabilities.

Regarding price control, he stressed that any increase in the prices of chicken and lentils would not be tolerated, and this issue would be discussed in every ECC meeting. He also emphasized digitalization to reduce human intervention and curb corruption.