ISLAMABAD: Finance Minister Muhammad Aurangzeb stated on Wednesday that Pakistan’s economy is progressing positively despite facing significant challenges. He emphasized the government’s commitment to reducing fiscal and current account deficits while bolstering the capital markets.
Addressing a Capital Market Development Fund signing event in Islamabad, Aurangzeb noted that ongoing regional tensions necessitate a cautious policy stance. He highlighted that Pakistan’s leadership is actively engaged in initiatives aimed at mitigating regional instability.
“Our priority remains enhancing macroeconomic indicators, and despite adverse conditions, the economy is moving in the right direction,” he affirmed.
He pointed out that Pakistan’s stock market has maintained stability amid regional uncertainties. Strengthening capital markets, he added, is vital for broader economic growth and achieving self-reliance.
Aurangzeb underscored the importance of increasing dependence on domestic resources to ensure economic stability. He stressed that commercial decisions should be made independently, prioritizing national interests. Furthermore, he advocated for a transition towards alternative energy sources in response to regional developments.
Efforts are ongoing to mobilize domestic savings and encourage local investment, with self-reliance identified as the sustainable path to economic stability. The finance minister also highlighted the Securities and Exchange Commission of Pakistan’s (SECP) crucial role in enhancing investor education and facilitating market access. He assured that the government would support necessary legal and regulatory reforms.
Additionally, Aurangzeb emphasized the significance of involving younger investors, stating, “Generation Z is the future” and must be empowered and integrated into financial markets.
In a related statement, SECP Chairman Akif Saeed acknowledged that Pakistan’s capital market remains underdeveloped, with less than 1% of the population currently participating as investors. He outlined plans to expand the investor base to 2.5 million through a comprehensive strategy aimed at raising awareness, promoting inclusion, and improving access to financial markets.
Saeed mentioned the establishment of joint platforms between SECP and market institutions to encourage investment. Awareness campaigns and regulatory reforms are being advanced to attract new investors, particularly among the youth.
He concluded by emphasizing that enhancing financial inclusion and investor confidence are top priorities, noting that Pakistan’s markets present significant investment opportunities that require greater public engagement.
