Pakistan has achieved economic stability, Adviser to the Finance Minister on Economic and Financial Reforms Khurram Schehzad said on Thursday, stressing that the government is committed to sustainable growth and long-term economic development.
Addressing the New Member Ceremony 2025 ceremony organized by the Association of Chartered Certified Accountants (ACCA), he summarized ongoing economic reforms, noting the International Monetary Fund (IMF) had acknowledged the progress in implementing key economic measures.
“Macroeconomic stability has been achieved, and economic indicators are showing positive trends,” he said.
The adviser underscored ongoing efforts to increase tax revenues and reduce unnecessary expenditures, emphasizing that fiscal discipline and sustainable growth are top priorities. He said the government is actively working to attract efficient, export-driven foreign direct investment to strengthen the country’s economic foundation.
Regarding public sector reforms, he noted the government is rightsizing 43 federal ministries and over 400 attached departments to enhance efficiency and reduce financial imbalances. “So far, 150,000 vacant posts have been abolished where no inductions were planned,” he said, adding the privatization of state-owned enterprises is underway to improve governance and efficiency.
Schehzad noted the decline in inflation and increase to foreign exchange reserves were positive developments for the economy.
In his address, Schehzad congratulated the entire ACCA Pakistan team and all new members, acknowledging their achievements and contributions to the finance and accounting sector. He also congratulated Ayla Majid on becoming the Global President of ACCA, recognizing her achievement as a proud moment for Pakistan.
Encouraging young professionals to prioritize working in Pakistan, he acknowledged prevailing challenges. “But with passion, hard work, and discipline, success is achievable,” he emphasized.
Declaring youth the driving force behind Pakistan’s progress, he said they must lead the country. “They have immense potential and the responsibility to take Pakistan forward,” he said, urging the participants to remain hopeful and positive about Pakistan and its economy, as their contributions would shape the nation’s future.