
Finance Minister Muhammad Aurangzeb has emphasized the need for Pakistan to reduce reliance on imported energy and shift toward domestic resources following recent regional tensions.
Recent regional tensions are a “wake-up call” for Pakistan’s economic policy, according to Finance Minister Muhammad Aurangzeb, who has urged the government to lessen its reliance on imported energy.
He emphasised the need to move toward alternate energy sources and increase reliance on domestic resources in order to build economic resilience while speaking at a Capital Market Development Fund event in Islamabad.
The minister emphasised Pakistan’s susceptibility to worldwide energy disruptions by pointing out that the government had been striving to stabilise foreign exchange reserves and guarantee continuous oil deliveries for the previous two months.
He underlined that increased independence and local capital mobilisation are necessary for long-term economic stability in order to lessen vulnerability to outside shocks.
Aurangzeb also emphasised the importance of capital markets in fostering domestic investment, pointing out that increasing investor involvement is essential to bolstering the economy.
Less than 1% of Pakistanis presently participate in financial markets, according to officials, and regulators want to raise this percentage through reforms and awareness campaigns.
In the face of persistent regional unpredictability, the comments represent larger initiatives to increase economic stability while lowering dependency on imported energy.
