Federal Finance Minister Muhammad Aurangzeb has said that Pakistan is now in a better economic position than before and the continuation of economic improvement continues in the current financial year.

In a virtual address at the Leaders in Islamabad Business Summit, Mohammad Aurangzeb has said that the production of major industries has improved, while strong growth in remittances is benefiting the current account, IT exports are also continuing to grow.

The finance minister has said that Pakistan is moving from aid-based relations to trade and investment, increasing trade and investment ties with bilateral partners is a priority, while mobilizing investors and expanding trade ties are also being focused on.

According to Mohammad Aurangzeb, Pakistan has set a clear direction of export-oriented economic development, refinance is being provided to exporters at the rate of 4.5%, while despite the policy rate of 11.5%, exporters are getting 4.5% refinance.

He has said that steps are underway to make the traditional export sectors more competitive.

The finance minister has said that the GDP growth of Pakistan last fiscal year was around 3.7 percent, while the pace of economic development has been maintained this fiscal year as well.

Muhammad Aurangzeb has said that Pakistan is moving towards sustainable economic development model.

He has said that the issuance of 3 billion dollars bond is an important milestone for Pakistan, after 4 years the global capital markets have been re-accessed, the orders for bond issuance remained double of the required volume, while Asian investors also participated fully.

According to the Finance Minister, the quality of investors is as important as the size of the order book and the participation of Asian investors is a positive sign for Pakistan.