Prime Minister Shehbaz Sharif has called for moving Pakistan’s economic focus beyond stabilisation towards sustainable growth, job creation, higher production, technology and export expansion.
Addressing the gong ceremony in Karachi through a video link to mark the listing of the Naya Nazimabad Apartment REIT scheme, the prime minister appreciated the combined efforts of federal and provincial authorities as well as financial institutions in addressing the country’s economic challenges.
Referring to his recent meetings with international bankers and financial leaders in New York and London, including representatives of Citibank, JPMorgan, Barclays and the IMF, Shehbaz said international financial institutions had recognised Pakistan’s progress on structural reforms and the steps taken to create a more favourable investment environment.
The prime minister credited the finance ministry, cabinet members, Federal Board of Revenue officials and federal secretaries for what he described as effective coordination that contributed to macroeconomic stability.
He said the restoration of economic stability had been supported by cooperation between the political leadership and military leadership.
Highlighting economic indicators, Shehbaz said Pakistan had raised $3 billion through a Eurobond after receiving bids worth around $6 billion. He added that State Bank foreign exchange reserves had reached approximately $21.4 billion, while commercial banks held reserves of around $5.5 billion.
He also pointed to growth in workers’ remittances and IT exports, while noting the continued performance of Roshan Digital Accounts.
The prime minister stressed that the next phase should focus on economic expansion rather than stabilisation alone. He called for greater investment in technology, employment, industrial production and exports.
Shehbaz said the 2026-27 federal budget had introduced significant tax incentives for exporters, manufacturers and industrial sectors, including construction. He added that government incentives for the construction industry were beginning to generate results.
He also praised real estate and industrial projects being developed under the REIT model and called for further improvements in Pakistan’s stock exchange and capital markets by examining successful regional models.
Expressing concern over industries that had received subsidies and tariff protection but failed to deliver the expected improvements in competitiveness, the prime minister stressed the need for modern machinery, greater productivity and sustained efforts.
He urged stakeholders to place national economic interests above personal gains and work towards improving Pakistan’s productive capacity.
Shehbaz also acknowledged the role of Chief of Defence Forces and Chief of Army Staff Field Marshal Syed Asim Munir in supporting national security and economic development.
He further praised the National Accountability Bureau chairman for the recovery of valuable public land and plans to establish a land bank.
The prime minister reiterated that continued reforms, investment and coordinated efforts could help Pakistan strengthen its economy and enhance its standing internationally.
Finance Minister Muhammad Aurangzeb said private-sector participation in the economy was gaining momentum, noting that around Rs60 billion had been disbursed through housing loans.
He said the economic outlook had changed significantly compared with three years ago, when the economy was contracting. According to Aurangzeb, foreign companies, particularly from the United States, were now showing increased interest in the Pakistani market.
He said the government would continue to provide a supportive environment for private investment.
The finance minister also said tax collection targets had been exceeded, while the number of tax filers had increased to more than 5.7 million from 3.9 million a year earlier.
Business leader Arif Habib said Pakistan’s return to international capital markets after four and a half years had attracted significant attention from global investors.
He said the strong demand for the Eurobond indicated continued international interest in Pakistan’s economic developments.
Habib said Pakistan’s sovereign credit rating had improved from CCC+ to B over the past two years, while the local currency had remained stable for three consecutive years.
He added that State Bank reserves had reached around $22 billion, with total liquid reserves standing at approximately $27 billion. Worker remittances had also continued to rise, while Roshan Digital Account inflows had increased by 58 per cent.
The ceremony was attended by federal ministers, senior government officials, the State Bank governor, business leaders and representatives of major corporate institutions.
