Karachi: Pakistan’s economy is projected to grow by four percent in the current financial year, Finance Minister Muhammad Aurangzeb announced. The minister highlighted investment opportunities in the country, recognized both locally and internationally, during a virtual event organized by the United Nations Development Programme (UNDP) in Karachi.

According to Radio Pakistan, Aurangzeb noted that the economy, which had been contracting three years ago, is now on a path to growth. He emphasized the importance of responsible growth to prevent boom-and-bust cycles and highlighted efforts to attract foreign investment, particularly noting interest from Turkish companies in Pakistan’s Distribution Companies (DISCOs).

On external financial indicators, Aurangzeb reported that foreign exchange reserves reached a record high of 21.4 billion dollars, providing nearly three months of import cover for the country. This achievement marks a significant milestone in Pakistan’s economic stability efforts.