Finance Minister Muhammad Aurangzeb on Saturday stressed the importance of continuity in the country\u2019s economic policy, saying it should be consistent regardless of the government in power. Speaking to reporters at the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, Aurangzeb said, \u201cWhen we talk about the charter of economy, it does not matter which administration comes in \u2026 the government\u2019s role is policy framework but even more important is policy continuity.\u201d The finance minister also urged shifting the economy to an export-led one, stating that every investment and action must be driven by exports. \u201cWe have an import-led economy [\u2026] We face a balance of payment problem and run into a boom-and-bust cycle. \u201cIf we want economic growth, then it has to be export-led growth,\u201d Aurangzeb asserted. Highlighting the importance of privatising loss-making state-owned enterprises (SOEs), he said, \u201cPrivate sector has to lead this country.\u201d Aurangzeb said SOEs \u201ccost Rs2.2bn per day\u201d and Rs6 trillion in losses in the last 10 years, adding: \u201cIf the private sector runs them, our fiscal balance or imbalance will improve.\u201d The finance minister said that $2.2 billion of dividends and profits, which had been held back, were repatriated between May and June stating, \u201cWe started on a clean slate this fiscal year.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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