ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb said on Tuesday that the South Asian country’s economy has entered a period of stability supported by improved domestic fundamentals and favourable global conditions.
Speaking virtually at the second edition of the Pakistan International Maritime Expo and Conference in Karachi, he remarked, “Where we are as a country, we find ourselves in a good spot at this point and time because there is a confluence of factors.”
He highlighted “macroeconomic stability combined with geopolitical tailwinds” as the key drivers behind the country’s strengthened economic outlook.
Aurangzeb further emphasised that Pakistan’s long-standing partnerships with other nations can now evolve from traditional government-to-government relations into substantial trade and investment opportunities.
“Our traditional partners, who have helped us through thick and thin … we find ourselves in a spot that we can now… move from government-to-government (G2G) discussions to trade and investment flows into the country,” he told the conference.
On the topic of international confidence in Pakistan’s economic management, Aurangzeb noted that, after a gap of two to three years, three major global rating agencies have now reached a consensus, issuing upgrades this year and projecting stable outlooks for the country.
“After a hiatus of two to three years, we have three global rating agencies which are fully aligned … in terms of the upgrades we have seen over the course of this year, but also their outlook, which is stable for Pakistan’s economy,” he said.
Blue Economy
Turning to sectoral strategy, Finance Minister Muhammad Aurangzeb highlighted the “blue economy” as a potential game-changer for Pakistan.
He noted that the sector currently contributes roughly $1 billion, or 0.4–0.5% of the country’s Gross Domestic Product (GDP), but has the potential to expand significantly.
“We are hovering at about 0.4 to 0.5 per cent of national GDP, which equates to roughly $1 billion,” he said, adding that Pakistan’s “real potential” could reach as high as $3 trillion.
The minister stressed that policy consistency would be crucial to achieving these objectives. “As finance minister, I would like to assure you … on policy consistency. Whatever we commit to, we see it through the cycle,” he affirmed.
He outlined plans for seafood exports, which currently stand at approximately $500 million, to increase to $2 billion over the next three to four years.
Additional strategic priorities include modernising ports and logistics, advancing digitisation, promoting renewable energy, and leveraging innovative financing tools such as blue bonds and blended finance.
Aurangzeb’s remarks signal Pakistan’s intent to capitalise on a favourable confluence of external conditions and internal reforms to accelerate economic growth. Achieving these ambitious targets, however, will require careful execution, strengthened institutional frameworks, and enhanced market confidence.
