Pakistan sees growth above 4%, looks to raise more than $1 billion from privatisation

BANGKOK: Pakistan's economy is expected to grow by more than 4% this fiscal year despite elevated oil prices, as the government looks to push for the privatisation of five to six entities that could raise upwards of $1 billion, Finance Minister Muhammad Aurangzeb told Reuters on Monday.

Pakistan's economy is considered to be highly vulnerable to a prolonged Middle East conflict given its dependence on Gulf energy imports, remittances and financing support from the region, even as it remains reliant on external financing to bolster foreign exchange reserves and meet debt repayments.