Karachi:Finance Minister Muhammad Aurangzeb announced that Pakistan's economy is projected to grow by four percent during the current financial year, highlighting the country's investment potential recognized locally and internationally.
According to Radio Pakistan, Aurangzeb made these remarks during a virtual address at a United Nations Development Programme event in Karachi. He noted that the economy, which was contracting about three years ago, is now on a growth trajectory.
The Finance Minister stressed the importance of responsible growth to prevent boom-and-bust cycles and mentioned the interest shown by Turkish companies in the privatization of DISCOs.
On the external front, Aurangzeb reported that foreign exchange reserves had reached 21.4 billion dollars a couple of weeks ago, marking the highest level in Pakistan's history. This reserve level provides the country with nearly three months of import cover.