Aurangzeb calls for greater private sector role in economy

Please enable JavaScript for the best SAMAA TV experience.

Note: For enhanced search features, please enable JavaScript.

Finance Minister Muhammad Aurangzeb has called for greater opportunities and facilities for Pakistan’s private sector, saying it should be given a leading role in driving the national economy.

Addressing the annual microfinance conference virtually, Aurangzeb said the government needed to create an environment that would allow the private sector to contribute more effectively to national development.

Aurangzeb said Prime Minister Shehbaz Sharif had a clear position on giving the private sector a leading role in the country’s development.

He said the government’s economic priorities included moving Pakistan away from dependence on aid and towards trade and investment.

The finance minister stressed that traditional economic activities needed to be complemented by what he described as the “new economy”, driven by modern technologies.

Aurangzeb highlighted artificial intelligence, Web3 and blockchain as areas that could help steer Pakistan’s economy in a new direction.

He said Pakistan’s young population, particularly freelancers, was already making an important contribution to the economy.

According to the minister, the country earned $1.6 billion from exports of IT and IT-related services during the last fiscal year.

He said the potential of young people could be further developed through training and retraining programmes aligned with emerging technologies.

Aurangzeb said Pakistan should move beyond limiting young people to traditional coding and provide them with opportunities to develop expertise in newer areas.

He specifically highlighted blockchain and other emerging technologies, saying greater skills in these fields could enable Pakistani youth to play a stronger role in the global digital economy.

The minister also stressed the importance of creating opportunities for the private sector to invest in and lead growth as Pakistan seeks to broaden its economic base.

High-speed diesel has been reduced to Rs397.76

24-karat gold stays at Rs437,536 per tola as silver also holds steady

Consumers pay Rs1,565bn in capacity payments last fiscal year, exceeding Rs1,167bn generation cost