Federal Finance Minister Muhammad Aurangzeb on Wednesday pledged to close tax loopholes, enhance investor confidence, and maintain economic reforms, as he addressed the Rawalpindi Chamber of Commerce and Industry’s Independence Day event.Aurangzeb said international institutions had welcomed Pakistan’s reform measures, while recent Gallup surveys showed rising economic confidence.
He noted a 60% growth in the stock exchange, an increase in new investors, and 250,000 new company registrations.
Aurangzeb suggested the key policy rate could be cut further this year, citing falls in average and core inflation.
Earlier in May, governor SBP, in a press conference along with other Monetary Policy Committee (MPC) members, announced a 100 bps cut, highlighting an improved inflation outlook and signs of moderate economic recovery.Beating the market expectations of a 0-50bps cut, the central bank reduced the policy rate by 100bps to 11% in a meeting,” wrote Topline Securities. “We expect interest rates to come down to 10% by Dec 2025.”
