Finance Minister Muhammad Aurangzeb said Pakistan is moving from an aid-dependent model to a trade- and investment-driven approach for sustainable growth, particularly with Gulf Cooperation Council (GCC) countries.

In an interview with CNN Business Arabia, he said the shift, championed by Prime Minister Shehbaz Sharif, reflects Pakistan’s renewed economic confidence and reform momentum.

Aurangzeb acknowledged the longstanding support of GCC nations, including Saudi Arabia, the UAE, and Qatar, highlighting their role in financing, funding, and cooperation at international financial institutions like the International Monetary Fund (IMF).

He said this relationship is now evolving towards trade expansion and investment flows.

Remittances remain a critical support for Pakistan’s current account, reaching about $38 billion last year and projected at $41-42 billion this year, with over half coming from GCC countries.

The finance minister said Pakistan is engaging GCC partners to attract investment in priority sectors, including energy, oil and gas, minerals and mining, artificial intelligence, digital infrastructure, pharmaceuticals, and agriculture.

He expressed optimism about a Free Trade Agreement with the GCC, noting that discussions are at an advanced stage.

Reiterating the government’s strategic direction, Aurangzeb said Pakistan’s future lies in fostering trade and investment partnerships rather than relying on aid.

He added that foreign direct investment in productive sectors would boost GDP growth, create jobs, and deliver shared economic benefits for Pakistan and its partners.

“The government is fully mobilised to translate this vision into reality,” he said.