WASHINGTON: In a key engagement, Pakistan’s Finance Minister Senator Muhammad Aurangzeb pressed for deeper U.S. support from the International Development Finance Corporation (DFC) as Islamabad seeks to revitalize foreign investment flows.
During a meeting with Benjamin Black, CEO of the U.S. DFC, Aurangzeb flagged promising opportunities in Pakistan’s oil and gas, mining and minerals, agriculture, information technology, and pharmaceuticals sectors.
He told Black that Pakistan’s leadership is united behind boosting bilateral trade and investment ties.
In a statement, Pakistan ministry of Finance said, Aurangzeb underscored the consensus at the leadership level to enhance trade and investment ties, welcoming the DFC’s interest in facilitating private sector-led funding for projects in Pakistan.
Separately, at the Borrowers’ Forum Roundtable, the finance minister discussed the crucial balance between servicing high debt obligations and financing essential social sector investments.
He commended the establishment of the Forum as a valuable platform for collective action, knowledge sharing, and policy coordination among debtor nations.
He stressed the importance of improved debt management, enhanced technical capacity, and better access to sustainable finance for climate resilience and infrastructure development.
Senator Aurangzeb, also met with Mohammed Aljadaan, Finance Minister of the Kingdom of Saudi Arabia, on the sidelines of the IMF–World Bank Annual Meetings in Washington D.C.
During the meeting, both sides reviewed the growing trade and investment relations between Pakistan and Saudi Arabia. The finance minister reaffirmed that Pakistan remains steadfast in pursuing economic reforms under the IMF programme to ensure long-term macroeconomic stability.
He apprised his Saudi counterpart of the ongoing privatization process of Pakistan International Airlines (PIA) and key airports, underscoring the Government’s resolve to attract strategic investments through transparency and efficiency.
The two Ministers agreed that institutions such as the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) could play a vital role in mobilizing and de-risking private sector investments in Pakistan.
Senator Aurangzeb also sought Saudi support for infrastructure development projects, emphasizing Pakistan’s commitment to fostering a deeper economic partnership with the Kingdom.
