Islamabad: Finance Minister Muhammad Aurangzeb has asserted that Pakistan’s ongoing reforms and economic liberalization efforts have the potential to initiate an “East Asia moment” for the nation’s economy. In a recent interview with CNBC, Aurangzeb pointed to the steady progress made towards achieving macroeconomic stability over the past year, highlighting critical improvements in currency stability, foreign exchange reserves, inflation, and policy rate alignment.

According to Radio Pakistan, the Finance Minister emphasized that recent upgrades by all three major global rating agencies substantiate the country’s positive economic trajectory and its reform agenda. He elaborated that Pakistan’s current reform initiatives are based on a balanced approach, integrating macroeconomic stability with deep structural transformation.

Discussing the future of Pakistan’s economic growth, Aurangzeb expressed the government’s resolve to move away from the traditional boom-and-bust cycle by transitioning from an import-led to an export-led growth model. He underscored the implementation of an ambitious tariff rationalization regime designed to enhance industrial competitiveness, lower costs for raw materials and intermediate goods, and bolster the export sector.

In the context of global trade dynamics, Aurangzeb explained that Pakistan’s policy focus is on fostering competitiveness rather than relying on protectionism. He stated that the government’s priority is to empower industries to compete, grow, and export, rather than shielding them indefinitely.

The Finance Minister also acknowledged the robust partnership with the United States and praised the World Bank Group for their support of Pakistan’s reform efforts. He reaffirmed Pakistan’s commitment to ongoing reform implementation, strengthening economic resilience, and positioning the country on a sustainable, outward-looking growth trajectory.