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Why Did Finance Minister Aurangzeb Meet Donald Lu In Washington?

Why Did Finance Minister Aurangzeb Meet Donald Lu In Washington?

US State Department representatives Donald Lu and Elizabeth Horst recently held a meeting with Pakistan’s Finance Minister Muhammad Aurangzeb in Washington, D.C., where they reiterated the United States’ commitment to strengthening bilateral relations with Pakistan.

Finance Minister Aurangzeb is currently in Washington attending the spring meetings of the World Bank and the International Monetary Fund (IMF). During his visit, he has discussed initiating negotiations with the IMF regarding a new multibillion-dollar loan package aimed at supporting Pakistan’s economic reforms. Aurangzeb emphasized that the proposed financial program would span at least three years to ensure substantial economic stability and growth.

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The meeting, which took place at the World Bank headquarters, focused on enhancing economic cooperation between Pakistan and the US, with particular attention to sectors like information technology, agriculture, climate resilience, and alternative energy, according to a statement from the ministry.

Minister Aurangzeb briefed the US officials on Pakistan’s comprehensive reform agenda, which includes privatization efforts, restructuring the energy sector, and broadening the tax base. He also shared these updates during a session with the WB-IMF Pakistan Staff Association, outlining strategies to rejuvenate Pakistan’s economy and ensure sustainable growth.

The discussions with US representatives underscored the mutual interest in deepening economic ties and supporting Pakistan’s initiatives towards fiscal discipline, public-private partnerships, and digital transformation to propel economic recovery and sustainability.