According to him, if resources are not mobilised, the nation's tax revenue will be used to pay off the debt, which has climbed to Rs 4500 billion over the last four years.

He added that increasing investment was still another crucial element in ensuring sustainable economic growth.

"We will not need to go to the IMF or any other lender," he added, adding that foreign direct investment would also need to be raised up to $25–30 billion year. If Pakistani investors would just bring their money out and invest in the country.

Additionally, he requested that the Ministry of Commerce take swift action to boost exports from the present $32 billion level to above $100 billion as soon as possible.

DAVOS: According to Christine Lagarde, president of the European Central Bank (ECB), the eurozone economy will perform "a lot better" this year than previously anticipated as optimism about nations avoiding a harsh recession grows.

Lagarde told a crowd at the World Economic Forum in Davos that the economic "news has grown substantially more favourable in the last few weeks."

She noted that the terminology has changed from "a minor downturn" to "a recession in the 20-nation club," with some significant economies, like Germany, possibly avoiding one completely.

According to the ECB's most recent projection, 0.5% growth is what may be expected in the eurozone in 2023.

But Lagarde emphasised that inflation remained "far too high."

In order to curb inflation, the ECB has already aggressively raised interest rates, increasing its benchmark rates by 2.5 percentage points since July.

Lagarde reaffirmed that additional interest rate increases would come after in order to drive inflation back to the ECB's goal rate of 2%.

Lagarde declared, "We'll keep going."