WASHINGTON: Pakistan’s Federal Minister for Finance and Revenue, Muhammad Aurangzeb, engaged in high-level discussions with international financial institutions during his visit to Washington D.C. on Saturday.
Meeting with Martin Raiser, World Bank’s Regional Vice President for South Asia, Minister Aurangzeb briefed on Pakistan’s economic reform initiatives and development priorities. They discussed the forthcoming finalization of the new Country Partnership Framework (CPF) between Pakistan and the World Bank, focusing on reforms in energy, taxation, and state-owned enterprises (SOEs).
Minister Aurangzeb underscored the alignment between the government’s priorities and the World Bank’s focus on climate change, digitalization, and human capital development.
In a separate meeting with Brent Neiman, Deputy Under Secretary for International Finance at the US Department of Treasury, Minister Aurangzeb highlighted Pakistan’s positive economic indicators post the Stand-By Arrangement (SBA) with the IMF.
He emphasized the importance of reforms in taxation, energy, and SOEs, and stressed the significance of the United States as Pakistan’s largest trading partner and source of remittances and Foreign Direct Investment (FDI).
Further engagements included discussions with Jin Liqun, President of the Asia Infrastructure Investment Bank (AIIB), and Makhtar Diop, Managing Director of the International Finance Corporation (IFC). Minister Aurangzeb discussed Pakistan’s economic trajectory, potential cooperation in infrastructure development, and ongoing support from these institutions.
Additionally, Minister Aurangzeb participated in various meetings and events, including a luncheon with the Country Management Unit (CMU) of the World Bank and a High-level Closed-door Roundtable on Financial Markets Access organized by the IMF’s Middle East and Central Asia Department (MCD). He also met with Andrew Torre, Regional President of VISA.
Minister Aurangzeb led Pakistan’s delegation in the IMF/World Bank’s 2024 Spring Meetings in Washington D.C., comprising key officials from Pakistan’s finance and economic sectors.
