Federal Minister for Finance & Revenue Muhammad Aurangzeb emphasized the critical importance of agriculture and information technology as key drivers of Pakistan’s economic growth during a meeting with Kevin Piccoli, Deputy Director of the US Commodity Futures Trading Commission (CFTC). The meeting was also attended by Chairman SECP Akif Saeed, senior officials from the Finance Division, and representatives from the US Embassy in Pakistan.
Discussions centered on the development of Pakistan’s agricultural commodities market, with a focus on the collaboration between the Securities and Exchange Commission of Pakistan and the CFTC. The two organizations are working together on a series of capacity-building training sessions aimed at enhancing the regulation and oversight of the commodities futures market in Pakistan. The goal is to establish a well-functioning commodities market that could contribute to sustainable economic growth.
Aurangzeb expressed his appreciation for the ongoing initiative, noting the significant role agriculture plays in Pakistan’s economy, particularly its strong contribution to the country’s GDP. He highlighted that despite overall economic growth of 2.38 percent during FY2024, the agricultural sector grew by an impressive 6.25 percent, driven by a sharp rise in the output of major crops.
The minister pointed out that both agriculture and information technology in Pakistan are primarily driven by domestic factors. He viewed the consistent growth in these sectors as a positive indicator, underscoring their export potential and their ability to stabilize the national economy.
