Govt committed to structural reforms: Finance Minister

Finance Minister Muhammad Aurangzeb says the government is committed to structural reforms in core sectors of economy, including energy, SOEs, privatization, taxation and rightsizing of government. He was talking to a group of investors led by Barclays, who called on him in Islamabad today. The Minister briefed the delegation on various policy interventions and initiatives implemented during the last 12 months to reform the economy and also gave them an overview of the growth and macroeconomic stability in key economic indicators, including twin deficits, stable currency, foreign exchange reserves, and inflation that remained a big story throughout the year. He also informed the delegation about various steps to implement the reforms agenda, including the signing of a National Fiscal Pact between the federation and its four units to implement reforms in various sectors. He said the private sector needs to lead the growth with policy framework and continuity provided by the government. To a question, the Minister noted a big drop in the inflation figures from a 38 percent high of last year to a 44-month low of 6.9 percent in September this year, is a strong marker of economic recovery. The delegation appreciated the structural reforms and stability visible in different sectors of the economy, and evinced keen interest in exploring opportunities for participating in the growth of Pakistan economy through investment and business collaborations. Source: Radio Pakistan