ISLAMABAD: Pakistan’s economy is on a promising trajectory, showing positive signs of stability and growth, according to Khurram Schehzad, Advisor to the Finance Minister on Economic & Financial Reforms. Speaking at the New Member Ceremony 2025 organized by the Association of Chartered Certified Accountants (ACCA), Schehzad provided an optimistic outlook on the country’s economic performance and the government’s ongoing reforms aimed at securing sustainable growth.
During his address, Schehzad highlighted that the government has made significant strides toward achieving macroeconomic stability. He noted that the International Monetary Fund (IMF) has recognized Pakistan’s progress in implementing crucial economic reforms, a clear sign that the country is on the right path. “Macroeconomic stability has been achieved, and economic indicators are showing positive trends,” he remarked, offering reassurance that the government’s efforts are beginning to bear fruit.
One of the core components of Pakistan’s recovery strategy, as outlined by Schehzad, is the government’s commitment to fiscal discipline. The Finance Advisor pointed out that efforts to increase tax revenues while simultaneously curbing unnecessary expenditures are central to the country’s plan for long-term economic development. “Fiscal discipline and sustainable growth are the top priorities of the government,” he emphasized, noting that achieving these goals would pave the way for a more robust economy.
Additionally, Schehzad discussed the government’s active approach to attracting foreign direct investment (FDI) to Pakistan. He explained that the country is focusing on securing efficient, export-driven FDI that would further strengthen the nation’s economic foundation. With Pakistan’s economy heavily reliant on exports and investments, this strategic focus is expected to drive long-term growth, helping the country recover from its financial challenges.
Public sector reforms also feature prominently in Pakistan’s economic recovery plan. Schehzad explained that the government is working to enhance the efficiency of its ministries by rightsizing 43 federal ministries and over 400 attached departments. This measure is aimed at reducing financial imbalances and improving the overall governance of state institutions. As part of these reforms, the government has already abolished 150,000 vacant positions where no future inductions were planned. Additionally, the ongoing privatization of state-owned enterprises (SOEs) is designed to increase governance and operational efficiency within these entities.
Another major area of focus has been managing inflation and boosting foreign exchange reserves. Schehzad highlighted the recent decline in inflation as a positive development, signaling the effectiveness of the government’s monetary and fiscal policies. The increase in foreign exchange reserves is another key achievement, providing Pakistan with greater financial security and flexibility in handling external shocks.
The Advisor also took the opportunity to congratulate the ACCA Pakistan team, including the newly inducted members, for their contributions to the finance and accounting sector. He particularly recognized Ayla Majid for her election as the Global President of ACCA, calling her achievement a proud moment for Pakistan.
Addressing the future of Pakistan’s economy, Schehzad encouraged young professionals to consider working within the country. He acknowledged that challenges exist both domestically and abroad but urged the youth to face them with passion, hard work, and discipline. “Success is achievable with dedication,” he said, adding that the youth are the driving force behind Pakistan’s growth. Schehzad urged young people to take charge of the nation’s future, emphasizing their immense potential and the important role they play in shaping Pakistan’s path forward.
In conclusion, Schehzad’s remarks provided a hopeful outlook for Pakistan’s economic future. With ongoing reforms, positive economic trends, and a growing commitment to fiscal discipline and public sector efficiency, the country is poised to overcome its challenges and achieve sustained growth. As the government continues to work on boosting foreign investment and managing inflation, the support and involvement of the youth will be critical in driving Pakistan toward a more prosperous future.