Gov’t Stabilizes Economy, Shifts Focus To Sustainable Growth: Bilal Azhar Kayani

Mohammad Ali (@ChaudhryMAli88) Published July 27, 2025 | 09:40 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 27th Jul, 2025) Minister of State for Finance and Revenue Bilal Azhar Kayani said Sunday that Pakistan’s economy has successfully transitioned from the brink of crisis to a phase of recovery and stability.

In an exclusive interview with a private news channel, he highlighted that inflation, which was soaring above 20 percent, has now been brought down to 4.5 percent, reflecting the government’s effective monetary and fiscal policies.

He credited this turnaround to the timely support of the International Monetary Fund (IMF) and difficult but necessary economic decisions taken in the national interest.

“Pakistan was heading toward default. Through urgent measures and reforms, we have not only averted the crisis but also laid the foundation for economic stabilization,” he said.

The state minister underscored that the current Federal budget reflects a strong commitment to social protection and inclusive development.

He noted a significant increase in allocations to the Benazir Income Support Programme (BISP), ensuring that the country’s most vulnerable segments receive necessary financial support amid ongoing global challenges.

He further elaborated on the government’s vision for sustainable, export-led growth by adding that the government is focusing on creating jobs, increasing productivity, and reducing poverty.

He also pointed to recent tariff reforms aimed at improving industrial competitiveness. These include reducing import duties on essential raw materials and machinery to encourage manufacturing and exports, particularly for small and medium enterprises (SMEs).