Pakistan Aims to Double Exports to $60 Billion in Next 3-5 Years: Finance Minister

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has announced an ambitious goal to double the country’s exports from $30 billion to $60 billion over the next three to five years.

In an interview with Bloomberg, Minister Aurangzeb outlined key economic reforms that have been implemented to stabilize the national economy. He credited critical policy decisions made in the past 12 to 14 months for helping control inflation and reduce interest rates, contributing to a more stable economic environment.

The minister also revealed efforts to strengthen the country’s foreign exchange reserves and accelerate the privatization process as part of broader measures aimed at securing long-term economic stability. Additionally, a “right-sizing” strategy is being adopted to reduce losses in state-owned enterprises, which will significantly lower public expenditures.

Aurangzeb further emphasized Prime Minister Shehbaz Sharif’s vision for sustainable and stable economic growth, focusing on public welfare by curbing unnecessary government spending.

The finance minister highlighted that the government has successfully managed to overcome twin deficits, achieving a surplus in both the current account and fiscal balance. He expressed confidence in Pakistan’s potential to play a pivotal role in regional trade, with ongoing efforts to expand the country’s trade partnerships.

Read more: Turkey’s President Erdogan Gifts Electric Vehicle to Pakistan’s PM Shehbaz Sharif

Increased regional trade, Aurangzeb noted, will contribute to a significant boost in exports, marking a positive outlook for Pakistan’s economy. The government’s broader strategy focuses on economic stabilization, export growth, and improved fiscal discipline — essential measures to strengthen Pakistan’s position in the global economy.