Finance Minister Muhammad Aurangzeb has said Pakistan is shifting focus from Aid to Trade and Investment for sustainable growth and mutually beneficial partnerships particularly with the Gulf countries.In an interview with CNN Business Arabia, he underscored that this strategic shift, clearly articulated by the Prime Minister, reflects Pakistan’s renewed economic confidence and reform momentum. 

Muhammad Aurangzeb acknowledged the longstanding support of GCC countries, including Saudi Arabia, the United Arab Emirates and Qatar, noting their critical role in supporting Pakistan through financing, funding and cooperation at international financial institutions such as the IMF.   He said this relationship is now evolving towards a new phase centered on trade expansion and investment flows.

Remittances continue to play a vital role in supporting the current account, with inflows reaching approximately thirty-eight billion dollars last year and projected to rise to 41-42 billion dollars this year, over half of which originate from GCC countries. The Finance Minister said Pakistan is actively engaging with GCC partners to attract investment in priority sectors including energy, oil and gas, minerals and mining, artificial intelligence, digital infrastructure, pharmaceuticals and agriculture.

He also expressed optimism regarding progress on a Free Trade Agreement with the GCC, noting that discussions are at an advanced stage. Reiterating the government’s strategic direction, Muhammad Aurangzeb said Pakistan’s future lies in fostering trade and investment partnerships rather than reliance on aid.

He emphasized that foreign direct investment into productive sectors would support higher GDP growth, generate employment opportunities and deliver shared economic benefits for Pakistan and its partners. He said the government is fully mobilized to translate this vision into reality.

Credit: Independent News Pakistan (INP)