Pakistan Targets Poverty and Environmental Concerns, Says Minister Aurangzeb

Davos: Finance Minister Muhammad Aurangzeb has underscored that achieving sustainable development remains Pakistan’s top priority. Addressing a high-level discussion on the increasing global debt burden on developing economies at the World Economic Forum, he highlighted the government’s commitment to reducing expenditures and debt servicing.

According to Radio Pakistan, the Finance Minister noted a significant decrease in the country’s debt-to-GDP ratio, which has improved from seventy-eight percent to sixty-seven percent. He outlined the government’s strategy to address critical issues such as rising population, poverty, and environmental challenges, aiming for sustainable economic growth through a ten-year partnership program with the World Bank.

Aurangzeb also stressed that the second phase of the China-Pakistan Economic Corridor (CPEC) will focus on enhancing business-to-business engagement. Chinese companies will be encouraged to relocate their production units to Pakistan under CPEC Phase II, potentially transforming the country into an export hub for Chinese enterprises.