KARACHI – Finance Minister Senator Muhammad Aurangzeb has revealed that Pakistan’s actual economy may be approaching the $1 trillion mark, almost twice the size of what official records indicate.
During a business forum held for a visiting Saudi delegation at the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, Minister Aurangzeb highlighted the substantial gap between Pakistan’s documented and undocumented economic activity.
Hidden Economic Potential
“While Pakistan’s officially recorded economy stands at $411 billion, approximately half of our economic activity remains undocumented,” Aurangzeb stated. “The true size of our economy is closer to one trillion dollars.”
The Finance Minister emphasized that the Prime Minister is personally overseeing two critical reform initiatives: comprehensive tax reforms and Pakistan’s digital transformation toward a cashless economy. According to Aurangzeb, digitization and documentation will be central to expanding the tax base and strengthening fiscal stability.
Path to Private Sector-Led Growth
Aurangzeb reinforced the government’s vision that sustainable economic growth must be powered by the private sector, with the government’s role being to create a favorable business and investment environment. He noted that macroeconomic stability has been achieved, with all three major global rating agencies showing alignment for the first time in years.
Strengthening International Ties
Making a brief reference to the recently approved Pakistan-Saudi Arabia Security Pact, the minister described the agreement as evidence of deepening trust between the two nations, opening doors for enhanced economic cooperation.
The Finance Minister also provided an update on Pakistan’s engagement with the International Monetary Fund, stating that talks are progressing constructively with only a few outstanding issues remaining before an anticipated staff-level agreement in Washington.
Reform-Driven Future
“Our focus is on transforming stabilization into sustainable growth through export promotion, enhanced energy efficiency, and accelerated digital transformation,” Aurangzeb explained. “We are entering a phase where reform, documentation, and investment must advance together.”
The minister’s remarks underscore the government’s commitment to unlocking Pakistan’s economic potential through systematic documentation and modernization of the financial system.
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