FM says Pakistan has fundamentals to attract investment

Finance Minister Muhammad Aurangzeb said Pakistan has the core strengths required to draw investors, a view that Mettis Link News reported is gaining acceptance at home and abroad. Speaking virtually at a United Nations Development Programme event in Karachi, he pointed to the economy's recovery. He said growth is now projected at 4% this fiscal year, after the economy contracted roughly three years earlier. He also stressed that the government wants expansion to continue through responsible growth that avoids boom-and-bust cycles.

Turning to privatization, Aurangzeb noted that Turkish companies have shown interest in the power distribution companies, known as DISCOs, which highlights foreign investor interest in the sector. Turning to the external account, he said reserves touched $21.4 billion, an all-time high for Pakistan, some two weeks before his remarks. He added that the reserves now cover nearly three months of imports.