Defence Minister Khawaja Asif has given hopeful news about Pakistan’s economy. He said the country has moved “out of the ICU” after facing a serious risk of default.
Speaking in the National Assembly during the budget debate, Asif noted that when the current government took over, Pakistan was nearly bankrupt. The International Monetary Fund (IMF) provided a bailout with tough conditions. Thanks to these steps, the economy is now stable and “breathing again.”
Asif expressed confidence that Pakistan could achieve 6-7% economic growth in the coming years. He stressed the need for tax reforms, political unity, and better security to support long-term progress. He also called for a united national effort against terrorism.
Asif highlighted Pakistan’s important role in the recent US-Iran understanding, which may be called the “Islamabad Pact.” Better ties with Iran could bring new chances, especially for Balochistan, through trade in oil and gas if sanctions ease.
Recent reports support this view. The Asian Development Bank forecasts GDP growth around 3.5% in FY2026, rising to 4.5% in FY2027, with improving manufacturing and lower inflation. Challenges remain, but signs of recovery are clear. With continued reforms and regional cooperation, Pakistan aims for stronger and stable growth.
