Government Actively Pursuing the Privatization of 28 More State-Owned Enterprises, Says Finance Minister
Government Actively Pursuing the Privatization of 28 More State-Owned Enterprises, Says Finance Minister
Addressing the opening ceremony of the Pakistan Banking Summit 2026, organized by the Pakistan Banks Association, the Finance Minister said that the last fiscal year ended with strong economic stability. GDP growth reached 3.7% due to the expansion of large-scale industries, while the current account remained stable during FY2026 because of strong remittances.
He added that remittances for FY2026 are expected to reach between $41 billion and $42 billion, while value-added exports also played a significant role in strengthening the economy.
Addressing the opening ceremony of the Pakistan Banking Summit 2026, organized by the Pakistan Banks Association, the Finance Minister highlighted the country's economic performance during the last fiscal year. He said that the fiscal year concluded with strong economic stability and pointed to several economic indicators that reflected improvements in the overall economy. According to the Finance Minister, the government's economic management and key financial indicators demonstrated stability during the period under review.
The Finance Minister stated that Pakistan's Gross Domestic Product (GDP) recorded a growth rate of 3.7 percent during the last fiscal year. He explained that this growth was largely driven by the expansion of large-scale industries, which contributed significantly to overall economic activity. He noted that industrial growth played an important role in supporting the country's economic performance and helped strengthen the GDP growth recorded during the fiscal year.
Speaking further at the Pakistan Banking Summit 2026, the Finance Minister said that the current account remained stable throughout FY2026. He attributed this stability primarily to the continued inflow of strong remittances from overseas Pakistanis. According to his remarks, remittances remained one of the key factors supporting the country's external sector and helping maintain the stability of the current account during the fiscal year.
The Finance Minister also said that remittances for FY2026 are expected to reach between **$41 billion and $42 billion**. He described these projected inflows as an important source of economic support and indicated that they continued to contribute positively to Pakistan's financial position. In addition, he stated that value-added exports also played a significant role in strengthening the economy by contributing to overall economic stability and performance during the fiscal year.
Summarizing the country's economic outlook, the Finance Minister reiterated that the last fiscal year ended with strong economic stability, GDP growth reached **3.7 percent** because of the expansion of large-scale industries, the current account remained stable due to strong remittances, remittances are expected to total between **$41 billion and $42 billion** for FY2026, and value-added exports also made a significant contribution to strengthening the economy.
This report is reported by Azad News HD.
