Federal Minister for Finance & Revenue Muhammad Aurangzeb has said that agriculture and information technology are the backbone of our economy and the real levers of economic growth of the country.
He made these comments during a call on him by Kevin Piccoli, Deputy Director in the Office of International Affairs at the US Commodity Future Trading Commission (CFTC). Chairman SECP Akif Saeed and senior officials from the Finance Division and officials from US Embassy in Pakistan also attended the meeting.
The meeting discussed the role of agricultural commodities market and the collaboration between SECP and CFTC for an ongoing series of capacity-building training sessions on the development of commodities futures market, regulation and oversight leading to a well-functioning commodities market in Pakistan.
Aurangzeb welcomed the initiative and highlighted the role of agriculture in Pakistan’s economy, particularly its contribution to the GDP of the country. He noted that while Pakistan’s economy during FY2024 grew by 2.38 percent, agriculture emerged as a main driver of economic growth, registering an impressive growth of 6.25 percent due to double- digit growth in output of major crops.
He said that both agriculture and IT in Pakistan were largely driven by domestic factors and a healthy and consistent growth in these sectors was a positive sign and a stabilizing factor in view of their export potential for national economy.
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