Pakistan economy to grow over 4%, says Aurangzeb

Summary

• The Pakistan economy is on track to grow over 4% this fiscal year despite costly oil, Finance Minister Muhammad Aurangzeb said on Monday.
• Speaking in Bangkok on Monday, Aurangzeb said Pakistan had secured enough fuel to avoid any shortages.
• “We are quite clear that we want the private sector to lead the country,” Aurangzeb said.

AI Generated Summary

The Pakistan economy is on track to grow over 4% this fiscal year despite costly oil, Finance Minister Muhammad Aurangzeb said on Monday.

Speaking in Bangkok on Monday, Aurangzeb said Pakistan had secured enough fuel to avoid any shortages. Key sectors such as agriculture were also holding up, he added.

“So I’m still quite clear that we should clock north of 4 percent,” the minister said. His comments came during an interview at the yearly gathering of the International Monetary Fund and the World Bank.

At the same time, he said the government was watching inflation closely. According to Aurangzeb, rising prices have a “knock-on impact” on commodity costs.

Privatisation could raise over $1 billion

Meanwhile, the government is pressing ahead with privatisation. Together, the planned deals could bring in more than $1 billion, Aurangzeb said.