Pakistan’s economy has entered a new phase of recovery, with Defence Minister Khawaja Asif stating that the country has moved beyond the critical challenges that once threatened financial stability. He said the economy is no longer in the “ICU” stage and expressed confidence that Pakistan could achieve 6 to 7% GDP growth in the coming years.
Speaking during the National Assembly budget debate, the minister highlighted that the government had taken important steps to prevent a possible default through careful economic management, policy reforms, and financial decisions. He said the country has now achieved greater stability and is moving towards sustainable growth.
The remarks came after the announcement of the Federal Budget 2026-27, which focuses on managing economic pressures while supporting development. Asif said that improved financial discipline, better policies, and a stronger economic framework could help Pakistan increase its growth rate within the next one to two years.
The minister also assured citizens that reductions in petroleum prices would be transferred to consumers. He stressed the need for a fair and balanced taxation system that encourages people to voluntarily comply with tax rules and contributes to long-term economic progress.
Discussing international matters, Asif praised Pakistan’s recent diplomatic efforts and said effective leadership had strengthened the country’s position globally. He highlighted the role of national leadership in promoting diplomacy and protecting Pakistan’s interests.
Regarding the situation in Azad Jammu and Kashmir, the minister said political matters should be handled through democratic institutions rather than external pressure. He opposed attempts to create divisions among communities and emphasized the importance of national unity.
Asif urged lawmakers to focus on constructive discussions instead of political disagreements. He said economic stability, democratic values, and social harmony are essential for Pakistan’s future development and prosperity.
