Finance Minister Muhammad Aurangzeb has said Pakistan must keep up economic reforms, expand exports, encourage private investment and improve fiscal discipline to build sustainable, employment-friendly growth. He warned that the global economy faces uncertainty and regional conflicts could affect essential commodity and energy prices.
Speaking at a Lahore panel on Pakistan’s long-term reform agenda, he named climate change and rapid population growth as major challenges. At about 2.55% a year, population growth could take Pakistan to 390 million people if the current pace continues, putting pressure on education, health, employment and other basic services.
He noted Bangladesh, Indonesia and Iran had cut population growth to below 1% over a decade, and said Pakistan needs to promote women’s education and workforce participation. Women’s labour force participation stands at about 22.7%, and raising it could strengthen productivity and growth. He also defended targeted subsidies over general ones, so limited public resources reach the most deserving people.
Sources: The Nation, Business Recorder. Written in our own words for information only.