ISLAMABAD: Pakistan Finance Minister Muhammad Aurangzeb said Thursday that Pakistan holds sufficient reserves and supply arrangements to manage potential economic fallout from regional developments, the Finance Ministry reported.
During a meeting with British High Commissioner Jane Marriott, Aurangzeb detailed the government’s strategy for stabilizing the economy. He stated that Prime Minister Shehbaz Sharif recently formed a high-level committee to monitor global commodity markets and energy supplies daily. This group includes members from federal ministries and the State Bank of Pakistan.
The committee tracks price movements and potential disruptions in crude oil, coal, gas, and petroleum products. Officials are also assessing how these factors impact inflation and financial stability. Aurangzeb stated the government is performing sensitivity analysis and scenario planning to address a prolonged regional crisis.
The finance minister said energy conservation measures are currently under review. The Finance Ministry is coordinating with provincial authorities to manage resources and prevent market panic.
Aurangzeb provided an update on Pakistan’s engagement with the International Monetary Fund.
He stated the government remains committed to meeting program benchmarks. Current efforts focus on tax policy, revenue mobilization, and institutional transparency. The government aims to broaden the tax base through data-driven enforcement.
Economic indicators show signs of recovery. Growth reached 3.7% in the first quarter of the current fiscal year. Large-scale manufacturing and the agriculture sector contributed to this improvement. Aurangzeb said the focus is now transitioning from stabilization to sustainable growth.
The British High Commissioner acknowledged the government’s reform efforts and detailed the United Kingdom’s support for Pakistan’s macroeconomic stability.
The discussion also covered investor confidence in the mining and minerals sectors. Both sides agreed on the importance of good governance to attract international investment.
The meeting concluded with both officials pledging to strengthen bilateral economic cooperation.
