Reforms needed to ensure sustainable growth: Aurangzeb

Finance Minister Muhammad Aurangzeb on Wednesday said that the country has achieved economic stability through “tough decisions and ongoing economic reforms over the past year”, emphasising that the objective was not stabilisation alone but “sustainable and inclusive growth”. He was speaking at a forum hosted by the Centre for Global Development (CGD) during the IMF-World Bank Spring Meetings. In a separate engagement on the sidelines of the meetings, the finance minister met Sultan bin Abdulrahman Al-Murshid, the top official at the Saudi Fund for Development (SFD), and requested expedited disbursements under the Saudi oil facility. The facility, agreed earlier this year, enables Pakistan to defer up to $1.2 billion in oil import payments, providing vital support for the country’s foreign reserves during its fragile economic recovery.