Key Points
- Meeting addressed energy security, supply chain monitoring, and preparedness for regional economic developments
- Government briefed on proactive measures, IMF engagement, and scenario planning to maintain financial stability
- Both sides emphasised boosting investor confidence, governance, and sustainable growth
ISLAMABAD: Pakistan and the United Kingdom reaffirmed their commitment to deepening economic cooperation as Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met British High Commissioner Jane Marriott CMG OBE at the Finance Division on Thursday.
The discussion focused on Pakistan’s macroeconomic stability, ongoing economic reforms, and strategies to navigate potential regional market uncertainties.
Senator Aurangzeb outlined the government’s proactive approach to managing emerging economic risks, highlighting the Prime Minister’s high-level committee, which includes key federal ministries and the State Bank of Pakistan. The committee conducts daily assessments of critical sectors, particularly energy supplies and global commodity markets, and reviews supply chain dynamics, price movements, and potential disruptions in petroleum products, crude oil, coal, and gas. Broader implications for inflation, external accounts, and financial stability are also analysed.
The Finance Minister emphasised that Pakistan maintains sufficient reserves and supply arrangements, and that scenario planning, sensitivity analyses, and energy conservation measures are in place to ensure resource management and prevent market panic.
Senator Aurangzeb updated the High Commissioner on the country’s economic reform agenda and engagement with the International Monetary Fund (IMF). He stressed the government’s commitment to meeting programme benchmarks and advancing structural reforms in tax policy, revenue mobilisation, governance, and institutional transparency, while broadening the tax base and improving compliance across sectors.
Highlighting recent positive trends, the Finance Minister noted that macroeconomic indicators show signs of stabilisation and recovery, with economic growth reaching 3.7 per cent in the first quarter of the current fiscal year. Resilience was observed in large-scale manufacturing and the agriculture sector. The government is now focused on transitioning from stabilisation to sustainable, inclusive growth while addressing social challenges such as unemployment and poverty.
High Commissioner Marriott welcomed Pakistan’s reform efforts, reiterating the UK’s commitment to supporting macroeconomic stability and long-term growth through technical cooperation, private sector engagement, and reform initiatives.
The discussion also covered strategies to enhance investor confidence in key sectors, including mining and minerals development. Both sides stressed the importance of stability, good governance, and sustainable development to attract international investment and promote inclusive economic growth.
Senator Aurangzeb welcomed the UK’s continued support, emphasising Pakistan’s commitment to policy consistency, strengthened governance frameworks, and a conducive investment climate. Both parties reaffirmed their dedication to enhancing Pakistan-UK economic cooperation and coordinating closely on development priorities.
