Finance Minister Muhammad Aurangzeb said that for the first time, sugar sent to Afghanistan was not smuggled but exported with the help of all law enforcement authorities deployed at the border.
Smuggling between Pakistan and Afghanistan has long been a crucial issue, impacting both economies and security dynamics. The porous Durand Line facilitates the illicit movement of goods such as electronics, fuel, and everyday essentials.
The Afghan transit trade is often misused, with items rerouted back into Pakistan to evade duties. To curb this, authorities have imposed fees, but smuggling persists, requiring stronger enforcement and cooperation.
During a televised address today, flanked by Information Minister Attaullah Tarar, the finance minister elaborated on the implementation and effectiveness of the production monitoring system.“For the first time, this year, sugar was not smuggled but rather was exported to Afghanistan.”
“This is a very beneficial result. We need every single dollar coming in to balance our current account,” he said, terming the development as a very positive outcome.While providing updates on the country’s economic progress, the minister said the remittance inflow for Feb 2025 had reached an impressive $3.1 billion.
“We estimate an all-time high remittance inflow of $36bn by the end of the fiscal year,” he said.Expressing gratitude to the Pakistani diaspora, Aurangzeb acknowledged their invaluable contribution to the nation’s economy.
“On behalf of the prime minister, the government, and the cabinet, we extend our heartfelt thanks to all our Pakistani brethren and sisters working abroad and sending remittances back home,” he said.
The finance minister also shared the results of several independent surveys conducted in the past quarter, including those by Gallup, ICC, Overseas Shapers, Ipsos, PricewaterhouseCoopers and a recent one by the State Bank of Pakistan, all of which showed a noticeable uptick in business and consumer confidence.
“This confidence is reflected in increased business activity, and it is promising to see these positive trends taking root across various sectors,” he noted.Despite daily fluctuations in the stock market index, Aurangzeb expressed optimism about the market’s overall direction.
Notably, he pointed out that 52,000 new investors had entered the market in recent months, signaling a growing interest in Pakistan’s financial sector.Furthermore, the finance minister highlighted a major milestone in the capital markets, with seven initial public offerings (IPOs) taking place on the stock exchange in the past year.
