Structural Reforms Position Pakistan For Sustainable Growth, Aurangzeb
Finance Minister Senator Muhammad Aurangzeb addressed the meeting of Finance Ministers and Central Bank Governors of the Shanghai Cooperation Organization (SCO) member countries via video link, which was held in the Chinese capital Beijing.
In his address, the Finance Minister thanked the Chinese government for hosting the meeting and said that he had wanted to attend this important meeting in person, but due to the budget season in Pakistan, it was not possible.
He termed the SCO membership as very important for Pakistan and called the organization an effective platform for enhancing regional cooperation and connectivity. The Finance Minister reiterated the commitment to enhance cooperation for common development, peace and stability under the “Shanghai Spirit”.
The Finance Minister highlighted the importance of digital economy, financial inclusion, technology transfer, and joint projects among member countries. He said that Pakistan is committed to promoting digital finance, fintech, and an environmentally sustainable financial system.
Senator Aurangzeb stressed the need for a collective strategy to address the challenges facing the global economy, such as the slowdown, economic inequality, and climate change.
He strongly supported the plan to establish the SCO Development Bank and called it a milestone in promoting economic development, infrastructure, and connectivity in the region. According to Pakistan’s position, this bank should be a center for modern financial trends, digital solutions, and green financing.
The Finance Minister also welcomed the proposal for the SCO Network of Financial Think Tanks, and expected that this network would play an important role in policymaking, research, and future planning.
At the end of his address, the Finance Minister expressed Pakistan’s full support and commitment to promoting economic stability, mutual benefit, and sustainable development in the region.
He also highlighted economic indicators such as fiscal discipline, reduction in current account deficit, currency stability, and improvement in investor confidence in the country, and said that these reforms are helping to build Pakistan’s economy on a solid foundation.
