Finance Minister positive about Pak economy

Finance Minister Muhammad Aurangzeb has stated that Pakistan’s foreign exchange reserves will increase to $10 billion in two months, as Pakistan is set to receive the $1.1 billion final loan from the International Monetary Fund (IMF).

The minister said that Pakistan would not need to go to IMF in the future but only after obtaining a “large and longer” 24th programme.

Interestingly, Aurangzeb made a witty comment about former Finance Minister Ishaq Dar, “no one can imagine a plan B with only 15 days of reserves,” – a veiled reference to Dar’s mention of his Plan B in 2023.

Aurangzeb spoke at the inaugural session of the 7th Edition of the “Leaders in Islamabad Business Summit” (LIIBS).

The minister also stated that the last loan tranche is expected to be disbursed next week and the country would get more inflows in June. Which would help the foreign exchange reserves balloon to the $10 billion mark, according to Aurangzeb.