Private sector vital for economy: Aurangzeb
Speaking to the media after attending the PHC Job Fair & Education Expo 3.0 at the Karachi Expo Center under the patronage of MNA Dr Ramesh Kumar Vankwani, Patron-in-Chief of the Pakistan Hindu Council (PHC).
The finance minister said economic recovery cannot be achieved without private sector leadership. 'As the economy recovers and we move towards sustainable growth, the private sector will have the most important role in moving the country forward,' he noted.
Pakistan poised to enter growth phase after stability, says finance minister
Aurangzeb highlighted that artificial intelligence is opening new avenues for growth, but reminded that 'there is no shortcut to hard work for humans.'
He emphasised tourism as a vital sector with huge untapped potential. 'People from all walks of life and religions must work together to promote tourism, as it can create countless new opportunities,' he added.
During his visit to a job fair in Karachi, the minister praised the initiative, saying such events help bridge the gap between youth and employers in both government and private institutions. The minister termed the organisation of the event a welcome step.
He said that initiatives like this job fair in Karachi would help young people successfully find opportunities for employment, both within the country and abroad.
The finance minister emphasised that such events offer a vital platform for the youth to connect with prospective employers and secure a brighter future.
Aurangzeb advised the youth that there are no shortcuts in practical life and encouraged them to embrace hard work. 'Ups and downs happen, but talent remains unaffected. We need to move toward sustainable growth,' he stated.
He stressed that economic stability requires an active role from the private sector. 'I myself come from the private sector. It works 8 to 12 hours a day—it's not corporate, and that difference is noticeable,' he said. Both government and private institutions were present at the job fair, he added.
Aurangzeb also credited the State Bank of Pakistan (SBP) for managing inflation effectively. 'The State Bank has controlled inflation in the best way, and the situation will improve further in the coming years,' he said.
He pointed out that Pakistan has gained renewed confidence from international credit rating agencies, calling it a sign of growing stability.
'Micro-stability is creating space, and for the first time, three agencies have come together and trusted Pakistan,' the minister remarked.
Aurangzeb said that the government's role is not to do business, but to create a conducive environment for it. He added that efforts will be made to further reduce the tax burden on the salaried class.
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