Minister of State for Finance Bilal Azhar Kayani has said that a decision will be taken next Friday to reduce petrol prices after diesel prices and this reduction will be made in the context of global prices.
He said this while talking to the media at the Karachi Chamber of Commerce on Saturday. He said that Pakistan has become eligible to join the global Eurobond market after 4 years.
He said that the powers were reduced by amending clause 37A in last year’s budget, he said that the budget is coming, in this regard, the business community is being consulted.
Karachi is the artery of Pakistan’s economic activities. The aim of the Karachi visit is to solve the problems hindering economic development.
He said that from February 2024 till today, the government was on a journey of economic stability, in which steps like reducing inflation, increasing foreign exchange reserves and joining the IMF program were taken. In the past too, there were fluctuations in the economy, in which GDP growth increased, but as a result, foreign exchange reserves decreased.
He said that sustainable economic development should be led by the private sector. The government will support the private sector for economic development.
The Prime Minister has made several reforms to promote exports, including handing over the management of the Export Development Fund to exporters.
Consultative meetings were also held with the presidents of all chambers of commerce every week. The Prime Minister, under the leadership of his economic team, kept the economy stable during the war. We will solve the problems through consultation.
In response to a question, he said that the ceasefire has benefited not only Pakistan but also the economies of the world. The ceasefire will be made a reason for improvement in the economy.
He said that Roshan Digital Accounts are a good instrument that overseas Pakistanis have trusted, through which capital can be transferred to Pakistan. Through RDA, overseas Pakistanis can make safe investments in every sector of the economy, including stocks and property.
We will continue our efforts to bring foreign exchange to Pakistan. The Prime Minister has said on the Exporters Award that exporters are the crown of our head.