Pakistan's economic growth to be about 4pc this fiscal year: FinMin

Islamabad: Finance Minister Muhammad Aurangzeb has said Pakistan's economic growth will be about four percent this fiscal year.

Addressing the EU-Pakistan High Level Business Forum, in Islamabad, he noted that this represents a significant improvement over the previous fiscal year.

The Finance Minister said the country has been consolidating gains in terms of macroeconomic indicators. He mentioned that our current account surplus was a little over one billion dollar in March this year, expressing satisfaction over IT exports, the positive trajectory of value added segments as well as increase in remittances.

Muhammad Aurangzeb said the country’s foreign exchange reserves are expected to reach around eighteen billion dollars by the end of June, providing an import cover of three months.

Addressing the Forum, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan underscored that the European Union remains Pakistan’s largest export destination, with the GSP Plus framework playing a pivotal role in expanding market access and improving standards.

However, he stressed that the future of this partnership lies beyond trade, focusing on investment, technological collaboration, and integration into global value chains.

He pointed to vast opportunities across sectors including mining, tourism, renewable energy, agriculture modernization, pharmaceuticals, logistics, and infrastructure. He particularly emphasized the untapped potential of regions such as Gilgit-Baltistan, Khyber Pakhtunkhwa and Balochistan, rich in natural resources and investment prospects.

Inviting European partners to explore Pakistan’s tourism sector, he noted the country’s unique blend of natural beauty and cultural heritage, offering high-value investment opportunities.