Finance Minister Muhammad Aurangzeb expressed optimism about the country’s economic outlook, stating that foreign exchange reserves are expected to hit $10 billion by June. He emphasized the need for energy sector reforms and highlighted the importance of privatizing loss-making enterprises.
Regarding seeking another IMF bailout, he termed it crucial but acknowledged it as a last resort. Despite Pakistan’s interest in a bailout, the IMF noted deteriorating external buffers in its latest report.
Aurangzeb projected GDP growth at 2.6% for FY2024 and outlined measures to attract foreign investment while keeping deficits in check. He mentioned efforts to curb inflation, increase tax collection, and reduce the current account and trade deficits.
Additionally, he noted improvements in the stock market and agriculture sector performance, along with a significant increase in tax collection by the FBR.
