In a virtual address at the second edition of the Pakistan International Maritime Expo and Conference in Karachi, Federal Minister for Finance Muhammad Aurangzeb said on Tuesday that Pakistan is enjoying a moment of convergence between internal economic stability and favourable international dynamics.

“Where we are as a country, we find ourselves in a good spot at this point and time because there is a confluence of factors,” he said.

He pointed to what he described as “macroeconomic stability combined with geopolitical tailwinds” as the main drivers of this improved position.

Aurangzeb underlined that the country’s long-standing relationships with its partners can now be transformed from mere government-to-government engagements into tangible trade and investment flows. “Our traditional partners, who have helped us through thick and thin … we find ourselves in a spot that we can now… move from government-to-government (G2G) discussions to trade and investment flows into the country,” he told the conference.

On the subject of global confidence in Pakistan’s economic management, Aurangzeb said that after a gap of two to three years, three major global rating agencies are now aligned in their view, reporting upgrades this year and offering stable outlooks. “After a hiatus of two to three years, we have three global rating agencies which are fully aligned … in terms of the upgrades we have seen over the course of this year, but also their outlook, which is stable for Pakistan’s economy,” he said.

He stated that the country is currently a part of an International Monetary Fund (IMF) programme, and that the recently announced staff-level agreement was evidence of international confidence in Pakistani authorities.

Blue Economy

Turning to sectoral strategy, Aurangzeb described the “blue economy” as a potential game-changer for Pakistan. He said the sector currently accounts for roughly $1 billion (0.4-0.5% of Gross Domestic Product [GDP]) and aims to scale significantly. “We are hovering at about 0.4 to 0.5 per cent of the national gross domestic product, which equates to roughly $1 billion,” he said, adding that Pakistan’s “real potential” was as high as $3 trillion.

The minister also emphasised that policy consistency would be central to achieving these goals. “As the finance minister, I would like to assure you … that we are going to ensure that there is policy consistency. Whatever we say, we see it through the cycle. So I think that is going to be a very important part of how we are going to take this discussion forward,” he said.

He outlined plans for seafood exports, currently sitting at approximately $500 million, to reach $2 billion over the next three to four years. “Getting that to $2 billion over the next three to four years was a very achievable milestone,” he said.

Further strategic pillars identified included modernising ports and logistics, digitisation, renewable energy and innovative financing such as blue bonds and blended finance.

The remarks signal Pakistan’s intent to harness a window of favourable external conditions and internal reform momentum to accelerate growth. However, ambitious targets and promises of sustained policy consistency will demand careful execution, strengthened institutional frameworks and deeper market confidence.