ISLAMABAD, Apr 23 (Alliance News): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a series of high-level meetings in Washington, DC, highlighting Pakistan’s economic stability, structural reforms, climate agenda, and investment opportunities.
He also called for stronger trade relations with the United States during his participation in the International Monetary Fund (IMF) and World Bank annual spring meetings.
In a press release issued by the finance ministry on Wednesday, it was stated that the finance minister represented Pakistan at various global platforms, where he underscored the country’s macroeconomic progress, despite global challenges like geopolitical tensions and trade fragmentation.
Addressing the G-24 Finance Ministers and Central Bank Governors’ meeting, where he served as the Second Vice Chair, Senator Aurangzeb spoke about Pakistan’s economic resilience.
He said the country’s stability has been achieved through a robust banking system and continuous reform efforts. He emphasized the need to maintain the reform momentum, especially in the face of global economic uncertainty.
The finance minister also took part in an IMF-hosted panel titled “Revenue Mobilization in the Medium Term,” where he detailed the government’s strategy to broaden Pakistan’s tax base. He stressed that agriculture, real estate, and retail sectors must contribute their fair share to the GDP.
He said the Federal Board of Revenue (FBR) is being modernized using technology, digital tools, and artificial intelligence to streamline audits, improve compliance, and reduce interaction between taxpayers and officials.
During a fireside chat at the Atlantic Council’s GeoEconomics Center, Senator Aurangzeb spoke on “Challenges and Opportunities for the Pakistani Economy through 2025 and Beyond.”
He laid out the government’s reform agenda, which includes the digital transformation of the FBR, involving provinces more actively in tax collection, and encouraging provincial legislation on the Agriculture Income Tax.
“We are working on a National Fiscal Pact with provinces to rationalize federal spending and build sustainable economic foundations,” he noted.
Addressing environmental concerns, the finance minister spoke about climate and population challenges in meetings with the World Bank. He appreciated the Bank’s 10-year Country Partnership Framework (CPF) for Pakistan, which he said will support climate-smart and inclusive development.
Aurangzeb highlighted that Pakistan is preparing to issue its first Panda Bond—a yuan-denominated bond issued in China.
He added that a green taxonomy framework is being finalized through the State Bank of Pakistan to support the launch of green bonds and sukuks aligned with Sustainable Development Goals (SDGs).
He emphasized Pakistan’s desire for improved trade relations with the United States and shared plans for a high-level Pakistani delegation to visit Washington soon to address trade imbalances and explore opportunities for collaboration.
In his meeting with international investors, the minister shared updates on Pakistan’s fiscal and monetary performance.
He highlighted a reduction in inflation, stability in exchange rates, and improvements in foreign reserves. These indicators, he said, have contributed to Pakistan’s recent credit rating upgrade by Fitch, boosting investor confidence.
Senator Aurangzeb also met with Martin Raiser, World Bank Vice President for South Asia. He thanked the Bank for approving the 10-year CPF and discussed ways to speed up project implementation and increase private sector investment in Pakistan.
The finance minister held separate talks with the Deutsche Bank team, led by Ms. Myriam Ouazzani, and reaffirmed Pakistan’s interest in returning to international financial markets.
The discussion focused on the issuance of Panda Bonds and Environmental, Social, and Governance (ESG) bonds.
In another key meeting with the Moody’s commercial team, the finance minister briefed them on Pakistan’s improving economic indicators. Both sides discussed opportunities for future cooperation, especially in connection with the Panda Bond initiative.
Aurangzeb also had a productive meeting with Sultan bin Abdulrahman Al-Murshid, CEO of the Saudi Fund for Development (SFD).
He recalled his recent participation in the Al-Ula Conference and expressed appreciation for the SFD’s continued support.
The finance minister updated the Saudi team on Pakistan’s credit upgrade by Moody’s, improvements in its macroeconomic environment, and growing investment interest under G2G and B2B channels.
He urged for the expedited release of funds under the Saudi Oil Facility and assured timely submission of required oil shipment documentation.
The two sides reviewed the ongoing projects and discussed the possibility of SFD financing for the N-25 highway project, a critical infrastructure corridor in Pakistan.
The finance minister’s visit to Washington is seen as a step forward in strengthening international financial partnerships, rebuilding investor trust, and accelerating domestic economic reforms.
