BANGKOK: According to The Express Tribune, Finance Minister Muhammad Aurangzeb told AFP on the sidelines of the IMF-World Bank Annual Meetings that Pakistan has so far withstood the shock of soaring energy prices caused by the Iran war.
He said Pakistan has secured enough energy supplies to last through November and is now planning for winter, when household demand usually rises. There had been no shortages and no queues at fuel stations, he said.
Aurangzeb said the government would not buy expensive spot LNG cargoes unless there was 'an absolute dire need'.
He voiced concern, however, over recent Houthi attacks on Saudi infrastructure, including energy sites and airports. If the infrastructure keeps getting hit, he said, the return to normalcy will take longer even if the conflict subsides.
The minister said the government is targeting businesses that collect sales tax from consumers but never deposit it, theft he put in the billions of dollars, and acknowledged that reforms face pushback from industry, lobbies and vested interests.
The Finance Ministry said Aurangzeb also met Jihad Azour, director of the IMF's Middle East and Central Asia Department, to review revenue, inflation, growth, the current account and winter energy procurement.
More on The Express Tribune.