Finance Minister Highlights SOE Losses and Economic Recovery Plan
Finance Minister Muhammad Aurangzeb revealed that state-owned entities (SOEs) are causing a daily loss of Rs 2.2 billion, amounting to Rs 6 trillion over the past decade. Speaking in Islamabad, he emphasized the need for privatization, advocating that the private sector should manage these institutions while the government provides a consistent policy framework to support economic reforms.
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Aurangzeb reiterated the government’s commitment to economic recovery, focusing on facilitating private sector growth and mainstreaming all contributors to the economy. He highlighted Pakistan’s recent progress, including a significant reduction in inflation to 4.9% and a shift away from dual deficits to consistent budget surpluses.
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The finance minister noted improvements in foreign exchange reserves, predicting they would soon cover three months of imports compared to the previous low of two weeks. He also pointed out declining interest rates and a surplus in the current account as signs of economic stabilization.
Aurangzeb assured that the government would avoid repeating past economic missteps and would refrain from interfering in private sector operations. He credited the recovery to focused policies and stabilization measures, emphasizing that the country’s economic trajectory is moving toward sustained growth and betterment.
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