Islamabad, Pakistan – Web Desk: Pakistan’s Finance Minister Muhammad Aurangzeb has said the country is set to repay $1.4 billion in Eurobond obligations this week, along with other external payments, amid ongoing discussions around the economy and IMF support.
Addressing the National Assembly of Pakistan, Aurangzeb emphasized the need to focus on economic facts, stating that despite significant repayments, Pakistan’s foreign exchange reserves remain stable.
He noted that the government had provided substantial relief during rising global oil prices, with total subsidies on petroleum reaching Rs129 billion. He added that the government is now implementing a targeted subsidy system, supported by digital data available with provincial authorities. The first tranche of subsidies has already begun reaching beneficiaries.
The finance minister further said that a third-party audit is being conducted for savings programmes to ensure transparency and efficiency. He also revealed that the government has implemented a Rs100 billion cut in the Public Sector Development Programme (PSDP) as part of fiscal discipline measures.
Aurangzeb reiterated that despite upcoming debt repayments, there has been no immediate pressure on foreign exchange reserves, signaling confidence in Pakistan’s short-term financial stability.
