Federal Finance Minister Muhammad Aurangzeb has said that trade is not the government’s job, the government is ready to fully support the private sector.
Speaking at the Insure Impact Conference under the Securities and Exchange Commission of Pakistan, Finance Minister Muhammad Aurangzeb said that he had an encouraging meeting with the IMF chief.
He said that macroeconomic stability has been achieved in 12 months. The IMF chief has openly appreciated the structural reforms. Everyone knows the details of the economy’s stability. If we want to move towards an insured Pakistan, faster and cheaper insurance will be important.
The Finance Minister said that after progress towards economic stability, the government is working on reforms, however, trade is not the government’s job, the government has the capacity for it. The government’s job is to provide facilities and a better policy framework to the private sector.
In his address, the Finance Minister said that the idea of an insured Pakistan is excellent, there has been a debate on where we stand. Now it should be discussed where we should be. The discussion on climate change at the Insured Impact Conference is a good step because it is very important.
He said that innovation and high value solutions are needed in life health general insurance. The government, cabinet, finance ministry are ready to provide all kinds of support to the private sector. If public sector insurance companies are in loss, then they should be privatized and given to the private sector.
