Finance Minister Muhammad Aurangzeb recently held a series of high-level meetings in the United States. The visits focused on promoting economic reforms, financial stability, and stronger international partnerships.
The minister met with the World Bank, Fitch Ratings, and participated in a roundtable at the Peterson Institute for International Economics. These engagements aimed to highlight Pakistan’s progress and future economic plans.
World Bank Collaboration
During his meeting with World Bank President Ajay Banga, the minister discussed the Country Partnership Framework with Pakistan’s provinces. He thanked the World Bank for supporting post-flood recovery efforts and providing technical help for Pakistan’s tariff policy.
The minister also requested additional financial assistance due to Pakistan’s low IDA allocation. He emphasized the importance of using technology to reach small farmers effectively. Aurangzeb mentioned Prime Minister Shehbaz Sharif’s recent meeting with the World Bank president, stressing Pakistan’s commitment to long-term collaboration with the institution.
Meeting with Fitch Ratings
In a separate meeting, the minister thanked Fitch Ratings for revising Pakistan’s credit outlook from negative to stable. He noted that all major global rating agencies are consistent in their assessment of Pakistan’s financial trajectory.
Aurangzeb briefed Fitch on the staff-level agreement with the IMF and highlighted progress in energy reforms, privatization, and institutional efficiency. He also shared updates on the accelerated privatization process and the launch of the Panda Bond in China. Trade and tariff negotiations with the US were also discussed, with the minister reiterating Pakistan’s focus on macroeconomic stability.
Economic Outlook at Peterson Institute
At the Peterson Institute, the minister took part in a roundtable titled “Pakistani Economy: Challenges, Opportunities, and Beyond.” He highlighted Pakistan’s recent economic achievements, fiscal discipline, and efforts to attract foreign investment. Aurangzeb noted that current geopolitical developments offer new opportunities for growth. He positioned Pakistan as an emerging hub for regional investment.
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The minister’s US visit reinforced Pakistan’s dedication to reforms, international partnerships, and sustainable economic growth.
