Reforms underway in energy sector, SOEs

Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday highlighted the reforms undertaken in Pakistan’s energy sector and state-owned enterprises (SOEs) including the privatisation of state companies. At a meeting with a delegation of Standard & Poor’s (S&P) Global Ratings at the Finance Division, the minister underscored the confidence shown by multilateral institutions through the provision of financing for various projects in Pakistan. The S&P delegation was led by Directors of Sovereign and International Public Finance Ratings Yee Farn Phua and Andrew David Wood. Aurangzeb gave an update on Pakistan’s current economic situation where he outlined the successful completion of a nine-month standby arrangement with the International Monetary Fund (IMF) and the improving macroeconomic indicators.