Commitment to Reform and Economic Cooperation
Pakistan’s Finance Minister Senator Muhammad Aurangzeb held a series of high-profile meetings in Washington on the sidelines of the IMF–World Bank Annual Meetings. The visit reaffirmed Islamabad’s commitment to economic reform, fiscal discipline, and global cooperation.
World Bank Discussions: Focus on Recovery and Reform
Meeting with World Bank President Ajay Banga, Aurangzeb reiterated Pakistan’s resolve to deepen its partnership with the Bank. He briefed Banga on post-flood recovery efforts and appreciated the Bank’s technical support in formulating Pakistan’s Tariff Policy and Country Partnership Framework (CPF).
He also sought additional support under the International Development Association (IDA) and discussed energy and gas sector reforms aimed at ensuring long-term sustainability. The minister underlined the importance of leveraging technology and cooperatives to reach small farmers and strengthen agricultural resilience.
Meetings with Fitch Ratings and Global Banks
Aurangzeb met officials from Fitch Ratings and thanked the agency for upgrading Pakistan’s credit rating to B- with a stable outlook. He highlighted the government’s continued focus on privatisation, structural reforms, and fiscal stability under the $7 billion IMF programme.
The finance minister also discussed Pakistan’s plan to issue Panda Bonds in China and the successful tariff negotiations with the US, which reduced tariff rates from 29% to 19%.
In separate meetings, he praised Dubai Islamic Bank (DIB) CEO Dr Adnan Chilwan for supporting Sukuk financing and met executives from Sharjah Islamic Bank, Ajman Bank, and the Currency Exchange Fund (TCX) to explore expanded financial cooperation.
Strengthening Development and Digital Collaboration
Aurangzeb met with Baroness Jenny Chapman, the UK Minister for International Development and Africa, acknowledging the UK’s consistent support for Pakistan’s reform and digital transformation agenda. Both sides discussed the Digital Dashboard project and agreed to improve coordination on development initiatives aligned with Pakistan’s priorities.
In a meeting with Dr Hajar El Haddaoui, Director General of the Digital Cooperation Organisation (DCO), Aurangzeb highlighted Pakistan’s digital transformation drive. He called for greater investment in digital payment systems, skills development, and inclusive digital frameworks to strengthen economic modernisation.
Driving Stability and Long-Term Growth
Concluding his Washington engagements, Aurangzeb reaffirmed that Pakistan’s economic policy focuses on stability, reform momentum, and global integration. He expressed confidence that sustained international partnerships will support Pakistan’s long-term growth and resilience.
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