Pakistan's economy to grow over 4pc this fiscal year, says Aurangzeb

In an interview with Bloomberg TV in Bangkok, Aurangzeb said Pakistan's economy was moving towards growth despite global and regional challenges, while the agriculture sector was also performing better. He said discussions were underway between Pakistan and the United States regarding a $10 billion Exchange Stabilisation Fund.

If secured, the facility would provide significant support to Pakistan. However, he added that failure to obtain it would not affect the country's access to international financial markets., an agreement with the International Monetary Fund (IMF) has paved the way for Pakistan to receive $1.21 billion in financial assistance.

Aurangzeb said Pakistan had secured adequate fuel supplies and successfully avoided a fuel shortage. He added that the government was closely monitoring inflation and assessing the impact of rising prices of essential commodities. The finance minister said around a dozen state-owned entities were at different stages of the privatisation process.

The government has set a target of raising more than $1 billion through the privatisation of five to six entities during the current fiscal year. He added that work was also underway to privatise electricity distribution companies and transfer airport management to the private sector.

Aurangzeb said the government wanted the private sector to play a central role in the country's economic development. He said efforts were being made to encourage private investment and provide a business-friendly environment to support economic growth.