Pakistan’s Finance Minister on Saturday (October 17, 2026) told AFP that the country had so far withstood the shock from skyrocketing energy prices caused by the Iran war, but that attacks on infrastructure in Saudi Arabia and other Gulf countries were “worrying” for the country’s longer-term economic outlook.
asserted
attacks → tell → outlook
In an interview on the sidelines of the IMF-World Bank Annual Meetings in Bangkok, Muhammad Aurangzeb said Pakistan had procured enough energy supplies to last through November 2026, and was now planning for the winter months, when household needs typically spike.
asserted
needs → say → months
“The first-order impact has been negotiated well by Pakistan,” he said.
asserted
he → negotiate → Pakistan
“We’ve had no shortage, no queues at the gas stations, and no law and order situation, which at times we have seen in some of the countries.”
asserted
we → have → countries
He added that unless the government saw “an absolute dire need,” it would not procure spot cargoes on the LNG front, which tend to be far more expensive than previously contracted shipments.
asserted
which → add → shipments
Since the United States and ally Israel launched the war on Iran in February 2026, global energy prices have surged as Tehran’s retaliatory action has targeted Washington’s Gulf allies and curtailed oil and gas supplies.
asserted
action → launch → supplies
With Yemen’s civil war flaring back to life as well, Houthi militants have repeatedly attacked Saudi infrastructure, including energy facilities and airports, in recent days.
asserted
militants → flare → days
Mr. Aurangzeb expressed alarm at the escalation, saying damage to such sites would delay a return to economic normalcy.
asserted
damage → express → normalcy
“What is now the worrying part of it is when the energy infrastructure starts getting hit,” he said.
asserted
he → start → it
“I, to be very honest, I don’t know where that would go.
asserted
that → know → ?
But one thing is very clear: that if the infrastructure continues to get hit, the return to normalcy, even if things subside, will take longer.”
asserted
things → continue → normalcy
It is currently in the midst of its 25th programme with the Fund, at least 11 of which have been outright bailouts, since gaining independence in 1947.
asserted
11 → gain → 1947
The current programme totals about $7 billion over three years, with the Fund reaching an agreement this month to release a $1.2 billion tranche.
asserted
Fund → total → tranche
With global debt stocks running high, the Fund has called, at this year’s annual meetings, on all economies, even those most vulnerable to the Iran war shock, to engage in fiscal consolidation to avoid a potential crisis.
asserted
economies → run → crisis
“Fortunately for us, we have been on this fiscal consolidation path for a while,” Mr. Aurangzeb said, with a rueful smile.
asserted
Aurangzeb → say → smile
The country’s tax revenues have grown significantly in recent years, and the Finance Minister said the government was targeting the theft of taxes by private sector businesses that collected sales tax from consumers but never deposited it in government accounts.
asserted
that → grow → accounts
Such theft accounted for billions of dollars, Mr. Aurangzeb said, adding that there remained “room for improvement” on increasing income tax collection as well.
asserted
Aurangzeb → account → collection
He said the government’s reform agenda had faced resistance from industry, lobbying groups and vested interests.
asserted
agenda → say → industry
“Every reform, everything that you try to do when you try to change the status quo, there is pushback,” he said.
asserted
he → try → quo
One of the major pillars of the IMF’s programme criteria is privatising state-owned assets in Pakistan, where the military runs a vast empire of businesses in sectors from real estate to fertiliser.
asserted
military → privatise → fertiliser
Asked about those companies, Mr. Aurangzeb denied they were receiving State funding.
asserted
they → ask → funding
“As far as we are concerned, whichever commercial enterprises [the military] are running, they are running on a standalone basis and profitable on their own basis,” he said.
asserted
he → concern → basis
“So, I can confirm to you, we are not providing any funds from the exchequer.”
asserted
we → confirm → exchequer
Pakistan’s military has directly ruled the country for roughly two-fifths of its history, and under current army chief Field Marshal Asim Munir, it has tightened its grip over key pillars of power, even as a civilian government remains nominally in charge of the State.
asserted
government → rule → State
The Aporia
