ISLAMABAD: Pakistan Finance Minister Muhammad Aurangzeb said the country remains on a stabilization trajectory under its IMF-supported program, as he outlined progress on reforms, trade diversification, and digital growth at the 23rd Doha Forum, according to a statement from the finance ministry.
Speaking at a high-level panel titled “Global Trade Tensions: Economic Impact and Policy Responses in the MENA Region,” Aurangzeb said Pakistan had made “significant progress” in macroeconomic stabilization and was advancing structural reforms in taxation, energy, state-owned enterprises, and private-sector development.
He noted that fiscal indicators had strengthened, citing a return to primary and current account surpluses supported by “annual remittances of $18 billion – $20 billion from the MENA and Gulf regions,” the statement said.
On trade performance, Aurangzeb said Pakistan had maintained “constructive engagement” with the United States on tariff issues, securing a favourable 19% tariff on major textile exports. He added that Islamabad was accelerating product and market diversification to widen export resilience.
The minister said Pakistan’s IT services exports were on track to reach “$4 billion this year” and highlighted deepening trade ties with Gulf and Central Asian economies.
However, he warned that climate change and demographic pressures remained Pakistan’s most serious long-term threats. The statement quoted him as saying that floods this year had reduced GDP growth by 0.5%.
Qatari Finance Minister Ali bin Ahmed Al Kuwari praised Pakistan as a “brother country” and said a forthcoming Free Trade Agreement between Pakistan and the Gulf Cooperation Council (GCC) would significantly expand bilateral trade and long-term economic cooperation, according to the statement.
He highlighted existing ties in liquefied natural gas, agriculture, and textiles. He said Qatar was eager to collaborate with Pakistan in artificial intelligence and digital technologies, citing its expanding talent base.
IMF Deputy Managing Director Bo Li commended Pakistan’s reform momentum and resilience-building efforts, noting that the Fund had approved an additional $1.3 billion in support under its Resilience and Sustainability Facility, the statement said.
Aurangzeb also outlined what he described as Pakistan’s “balanced and pragmatic” approach to relations with both China and the United States, citing progress under CPEC Phase 2.0 and emerging cooperation with Washington in minerals, AI, blockchain, and digital governance.
In a separate bilateral meeting, Aurangzeb and Al Kuwari agreed to deepen economic cooperation and maximize the benefits of the new FTA. They also discussed strengthening long-term energy collaboration and pursuing joint initiatives in AI, digital infrastructure, and skills development, the statement added.
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