ISLAMABAD, Pakistan: The Federal Minister for Finance & Revenue Senator 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.
The minister made these comments during a call on him by the Deputy Director in the Office of International Affairs at the US Commodity Future Trading Commission (CFTC) Kevin Piccoli.
The Chairman SECP Akif Saeed and senior officials from the Finance Division and officials from US Embassy in Pakistan also attended the meeting.
Mr. Kevin Piccoli, Deputy Director at the US Commodity Futures Trading Commission (CFTC), visits Finance Division to call on Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb in his office today. #Finance #USPakistanRelations pic.twitter.com/y9bD10LPVb
— Ministry of Finance, Government of Pakistan (@Financegovpk) September 10, 2024
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.
Senator Muhammad Aurangzeb welcomed the initiative and highlighted the role of agriculture in Pakistan’s economy, particularly its contribution to the GDP of the country.
The minister 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.
Muhammad Aurangzeb 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.
