ISLAMABAD/ DUBAI - Finance Minister Muhammad Aurangzeb has said Pakistan is on track to secure a new loan from IMF.
In an interview with English language newspaper, he said the IMF has been very receptive in terms of agreeing to consider a larger and longer programme.
The finance minister said Pakistan would need at least three years of support to carry out a reform agenda across several sectors including taxation and energy. Muhammad Aurangzeb said macroeconomic factors are shifting in Pakistan’s favour as it works to boost its lagging economy.
The finance minister said Pakistan’s currency has stabilised and the inflation is on track to drop to single-digit levels by the end of next year.
Aurangzeb also told the Abu Dhabi-based publication that the macroeconomic factors are shifting in its favour as it works to boost its lagging economy. The rupee has finally stabilised, he said, adding that the inflation is on track to drop to single-digit levels by the end of next year.
He further said that the cash-strapped nation would need at least three years of support to carry out a reform agenda across several sectors including taxation and energy.
Earlier, the finance minister revealed that after the Islamabad International Airport, two more airports — Jinnah International Airport in Karachi and Allama Iqbal International Airport in Lahore — would also be privatised.
Addressing an event in Dubai, the finance czar said that talks are underway with Turkish and the Europium firms regarding privitisation of the Islamabad airport. “The Pakistan International Airlines (PIA) will be privatised by July [2024].”
Meanwhile, Aurangzeb held meeting with foreign investors including Chairman of Ayana Holding, Abdulla Bin Lahej and Chairman Nad Al Shiba Holding, Mohammed Hilal Bin Tarraf Al Mansoori, in Dubai.
According to press statement issued by finance ministry, the minister explored ways to enhance investment activity between the United Arab Emirates (UAE) and Pakistan by supporting existing economic partnerships and exploring further diversification to include areas of information technology, renewable energy, transport and logistics, infrastructure and real estate development.
He highlighted the competitive advantages that make Pakistan an ideal destination for investors seeking high returns and sustainable growth.
The minister also highlighted the role of Special Investment Facilitation Council (SIFC) in assisting investors at every stage of their journey, comprehensive support services including market research, regulatory guidance, investment facilitation, and post-investment support, ensuring a smooth experience.
