Aurangzeb: subsidies must be targeted and time-bound

In Bangkok, Aurangzeb told the IMF that Pakistan economic reforms will keep subsidies budget-neutral, targeted and time-bound for low-income families.

Muhammad Aurangzeb told the IMF managing director in Bangkok on Wednesday that subsidies should be budget-neutral, targeted and time-bound.

He cited a fiscal deficit at a 22-year low, three years of primary surpluses, growth of 3.7 percent and reserves covering three months of imports.

He also pointed to sovereign credit-rating upgrades, a September Eurobond and an IMF staff-level agreement on 7 October.

He called for diversified energy sources and trade routes, deeper regional integration, and more investment in logistics and food systems.

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