Pakistan expects its economy to grow by more than 4 percent in fiscal year 2027 and plans to raise over $1 billion by privatizing five or six government-owned companies, Finance Minister Muhammad Aurangzeb told Reuters on Monday.

Speaking on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank in Bangkok, Aurangzeb said Pakistan’s economy remained on track despite high oil prices. He added that the country had secured sufficient fuel supplies and that key sectors, including agriculture, continued to perform steadily.

Pakistan is also discussing a proposed $10 billion exchange stabilization facility with the United States. Aurangzeb said negotiations were ongoing, but no deadline had been set for reaching an agreement.

He described the proposed facility as additional financial support, adding that Pakistan would retain access to financial markets even if the arrangement did not materialize.

The government reached a staff-level agreement with the IMF last week that could release around $1.21 billion under Pakistan’s existing loan programme and a climate-related financing facility.

Aurangzeb said around a dozen government-owned companies and entities were in the privatization pipeline. These include power distribution companies, while the government is also considering outsourcing airport operations.

Pakistan expects to complete five or six transactions during the current fiscal year, potentially generating more than $1 billion, he said.

The privatization drive is part of the government’s broader economic reform programme, following the sale of Pakistan International Airlines last year.

Aurangzeb said the government wanted the private sector to take a larger role in economic activity, while the state would focus on providing support and creating an environment conducive to business growth.