ISLAMABAD, Jan 05 (APP): Former caretaker federal minister Gohar Ejaz on Monday said that Pakistan has achieved stability in key economic indicators and now needs to shift its focus toward policies aimed at accelerating economic growth.
In a press statement, he said that over the past three years, Pakistan has attained macroeconomic stability, with the currency stabilizing and the Pakistan Stock Exchange recording a 400 percent increase.
Gohar Ejaz who is also Chairman of the economic think tank Economic Policy, added that the policy rate is expected to decline further and move into single digits in the near future.
He noted that the privatization process of loss-making state-owned enterprises has successfully commenced, easing the fiscal burden on the economy. To sustain long-term economic growth, he emphasized that the reform momentum must continue.
Gohar Ejaz stressed the need for an export-led industrial policy, revitalization of the domestic economy through the construction sector, and incentives for a research-driven agricultural policy.
He said future economic policies must prioritize public welfare, adding that after achieving stability, Pakistan must now focus on kick-starting economic growth.