Finance Minister Aurangzeb stated that Pakistan has held “very constructive engagement” with the International Monetary Fund (IMF) mission. He expressed confidence that the remaining issues are not “showstoppers” and hopes to finalize a staff-level agreement (SLA) early next week during his Washington visit. He will be joined by the State Bank of Pakistan governor and finance secretary.
Aurangzeb made these remarks while addressing a Saudi investors’ delegation at the Overseas Chamber of Commerce and Industry in Karachi. He said, “We have a few outstanding issues with the IMF, but they are no showstoppers. Discussions will continue virtually tonight and over the weekend. Early next week in Washington, we hope to move forward with the SLA.”
The finance minister is scheduled to attend the 2025 IMF and World Bank Annual Meetings from October 13 to 18 in Washington. Pakistan and the IMF have made significant progress toward an SLA after review talks under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF). The IMF team, led by Iva Petrova, visited Karachi and Islamabad from September 24 to October 8 for these discussions.
Aurangzeb also highlighted Pakistan’s macroeconomic stability, noting alignment with three global rating agencies. He emphasized that structural reforms in taxation and energy are underway. “We are learning from Saudi Arabia’s Vision 2030. Indexes are ahead of where they needed to be by 2030,” he said.
Regarding the recent floods, Aurangzeb stated that rapid assessments have been completed. Resources may be repurposed, and external assistance could be required for more detailed post-damage assessments.
In other related news also read Pakistan-IMF Talks: Punjab Withholds Surplus Citing Flood Aftermath
Meanwhile, Aurangzeb highlighted growing cooperation with Saudi Arabia. Two memorandums of understanding (MoUs) were signed to advance K-Electric’s ownership and explore strategic investments in Pakistan’s power sector. The MoUs include the sale of KES Power Ltd shares and collaboration with Trident Energy Ltd.
Aurangzeb’s Washington visit underscores Pakistan’s commitment to financial stability and strengthening international economic partnerships.
