Presenting the Economic Survey 2024, Finance Minister Muhammad Aurangzeb stated that the strategy adopted last year will be followed in the next fiscal year as well. He mentioned that the National Economic Council (NEC) has made some changes to the decisions of the Special Investment Facilitation Council (SIFC).
During the press conference for the Economic Survey, when a journalist asked if the NEC had changed some decisions of the SIFC, the minister replied affirmatively, stating that the NEC has indeed altered some decisions. He emphasized that the caretaker government made these decisions, and the elected government should review them.
When asked about the $9.1 billion foreign exchange reserves and their sources, he responded that a significant amount came from open market operations.
Regarding the strategy for the next year, Muhammad Aurangzeb said, "The simplest way to explain it is that we will do what we did in the last fiscal year 2023-24. It will more or less be the same pattern that we will follow in the fiscal year 2024-25. We will look towards rollovers."
In response to another question, he stated that in terms of external financing, we are entering the new year on a much stronger note compared to the start of last year. We will follow a similar approach to our payment schedule as last year. Payments for the upcoming fiscal year are not a major issue.
He added that they are excited to launch Panda Bonds during the next fiscal year to establish a diverse funding base.
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