Pakistan looking to raise more than $1bn under govt push for privatisation, says finance minister

The government is looking 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, stating that he expected the economy to grow by more than 4 per cent this fiscal year despite elevated oil prices. 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.…