Finance Minister Muhammad Aurangzeb on Wednesday stressed that all sectors will have to “chip in” to increase the country’s exports.

Addressing the business community in Peshawar, the finance minister stressed the need to move away from the boom and bust cycle experienced in the past, adding that “it’s very easy to just pump in liquidity.

“However, when you reach four per cent growth — and because you are import-led and import-dependent — you run out of dollars and face the problem of balance of payment,” he said, highlighting that the country then reaches out to the International Monetary Fund (IMF) to stop it from defaulting on its payments.

In 2023, the country’s dwindling foreign reserves had raised alarm bells, as they reached $4.6 billion — barely enough to cover three weeks’ worth........

© Dawn Business