In a historic event, former and current finance ministers, Ishaq Dar and Muhammad Aurangzeb, came together at the foundation stone laying ceremony of a new SECP building. Both ministers emphasized the need for structural reforms to overcome economic challenges and achieve sustainable development. Dar dismissed concerns over heavy debt, highlighting the country’s potential with over $10 trillion worth of mineral resources. He also mentioned the IMF’s expected approval of a $7 billion deal by the end of the month.
Aurangzeb reiterated the importance of reforms to ensure economic stability and sustainability, noting recent positive reports on macroeconomic stability. He emphasized the government’s focus on increasing tax collection, encouraging foreign direct investment, and boosting exports. Both ministers stressed the need for reforms to reduce reliance on government borrowing in the banking sector and promote private sector financing.
The event marked a significant step towards SECP’s financial autonomy, with Chairman Akif Saeed announcing radical reforms to facilitate business and investment processes. The government pledged full support for SECP’s regulatory framework reforms, signaling a positive outlook for economic growth and development.\
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