Finance Minister Muhammad Aurangzeb says achieving sustainable development is Pakistan's top priority.

Speaking during a high-level discussion on the topic of growing burden of global debt on developing economies at the World Economic Forum in Davos, he said the government is working to reduce its expenditures and debt servicing.

He mentioned that the debt-to-GDP ratio has decreased from seventy-eight percent to sixty-seven percent. 

The Finance Minister said Pakistan aims to tackle rising population, poverty and environmental issues and move towards sustainable economic development through the ten year partnership program with the World Bank.

He emphasized that in the second phase of CPEC, the focus will shift to promoting business-to-business engagement. He said Chinese companies will be encouraged to relocate their production units to Pakistan under CPEC Phase II.

He said that Chinese companies could potentially make Pakistan the hub for their exports.