Putting One's House in Order to Cut Debt-Bearing, Says Minister

Flying high in the talks at the World Economic Forum at Davos on the growing burden of global debt on developing economies, the finance minister rang out the rights and means for Pakistan to handle its financial problems.

The minister underlined the fact that it is going to be the private sector which shall push the economy hitherto further. "The private sector will have to play a leading role in economic progress and achieving sustainable development," he remarked. The government has therefore, an inclusive agenda for a business-friendly environment that should boost private enterprises to advance in national growth significantly.

The country has also progressed in terms of reducing the debt burden. The debt-GDP ratio has dropped from 78 percent to 67 percent. Such an achievement signifies the commitment of the government to endow the economy with stabilization through fiscal discipline and efficient debt management. Here, the minister mentions that a prosperous future lies on the path of radical reforms.

"You have to clean your own house before throwing out the debt trouble," said Aurangzeb. According to him, this is a hard fact that makes it necessary to establish a solid foundation for future growth and reduction of debt by eliminating structural issues in the economy.