Pakistan, Oct. 25 -- Finance Minister Muhammad Aurangzeb has ruled out pursuing liquidity-fuelled, consumption-led economic growth, saying Pakistan must prioritise sustainable, export-led expansion and continue with tariff reforms to improve the competitiveness of its industries.

The finance minister was speaking at the Lahore University of Management Sciences (Lums) on Saturday at an event organised by the American Business Forum (ABF). ABF President Osman Khalid Waheed, former State Bank governor Raza Baqir and Habib Group Vice Chairman Salman Burni also spoke.

Aurangzeb said Pakistan could not afford to repeat the cycle of import-dependent growth that had previously led to balance-of-payments problems and forced the country to seek s...