ISLAMABAD — Pakistan’s Finance Minister Muhammad Aurangzeb acknowledged the severe impact of recent floods on agriculture and infrastructure but asserted that the country’s broader economic trajectory remains stable.
Speaking in an interview, Aurangzeb revealed that damages to vital crops such as rice and cotton will weigh on economic growth but said the economy is resilient enough to maintain growth between 3.5 and 4 percent. He labelled climate change not as a distant concept but as a lived reality for Pakistan, especially given the scale of this year’s floods.
He outlined plans to issue $250 million in yuan-denominated Panda bonds later this year to diversify funding sources and reduce dependence on external borrowing. Meanwhile, Pakistan expects to soon receive another $1.2 billion from the IMF, following progress in staff-level agreement talks.
While acknowledging the hardship endured by farmers and affected communities, Aurangzeb emphasised that macroeconomic fundamentals are intact. He urged coordinated relief efforts and stronger climate adaptation policies to mitigate future risks.
This story has been reported by PakTribune. All rights reserved.