Pakistan Finance Minister Urges Business Reforms to Boost Global Competitiveness

Finance Minister Muhammad Aurangzeb urged Pakistani businesses to reform their business and income models and improve productivity to strengthen competitiveness in global markets. He stressed the need for structural reforms, greater private-sector participation, and increased export growth in Pakistan. The minister noted that economic growth must generate employment opportunities, stating that 7% to 8% growth would not be sufficient without corresponding job creation. He also highlighted the need to increase women's participation in the workforce, which currently stands at around 22.7%.

The minister emphasized that businesses must adapt their operating models to changing global economic conditions. He also pointed out that global economic uncertainty, potentially driven by international conflicts, could affect the prices of essential commodities.