WASHINGTON: Pakistan’s Minister for Finance and Revenue Muhammad Aurangzeb has reaffirmed the government’s commitment to sustaining economic reforms under the guidance of the International Monetary Fund (IMF), aimed at fostering long-term development and stability.
The Finance Minister gave the assurance during his meeting with IMF Managing Director Kristalina Georgieva in Washington, said a statement issued by the Finance Ministry on Tuesday.
The minister thanked the IMF team for reaching a Staff-Level Agreement on the First Review under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF).
He extended an invitation from the Prime Minister of Pakistan for Georgieva to visit the country.
The Finance Minister also met with the Deloitte delegation and apprised them of Pakistan’s macroeconomic outlook, the government’s sectoral development agenda, and its export-led growth priorities.
“Both sides explored potential collaboration in energy sector reforms, critical minerals extraction and marketing, privatization, technology, crypto policy, and the operationalization of the Country Partnership Framework (CPF),” the statement added.
Minister Aurangzeb also welcomed Deloitte’s planned visit to Pakistan in May 2025 to further deepen engagement.
Later, the Finance Minister met with Hela Cheikhrouhou, Regional Vice President of the International Finance Corporation (IFC), and discussed private sector reforms, energy transition, sound municipal finance, and full employment initiatives.
He reviewed progress on Diversified Payment Rights (DPR) and commended the IFC’s pivotal role in securing USD 2.5 billion in debt financing for the Reko Diq Copper & Gold Mine Project in Balochistan.
The Minister emphasized the importance of ensuring that local communities benefit from the project’s economic gains.
Minister expressed gratitude to the World Bank for its historical support to Pakistan and commended its leadership in developing a transformative CPF—a decade-long strategic roadmap centred around measurable impacts and outcomes.
He appreciated the World Bank’s ongoing assistance in crafting a comprehensive implementation strategy and action plan to operationalise the CPF while simultaneously enhancing overall efficiency.
The minister also provided a detailed overview of Pakistan’s macroeconomic turnaround and reaffirmed the government’s unwavering commitment to ensuring sustainable economic stability.
The Finance Minister had a very productive meeting with Mr. Ajay Banga, President World Bank Group, Thanked him for WB's historical support to Pakistan and spearheading the conception and preparation of a decade-long CPF with a sharp focus on impacts and outcomes. Appreciated… pic.twitter.com/HKAvXePhry
— Pakistan Embassy US (@PakinUSA) April 21, 2025
The Finance Minister also held a meeting with Robert Kaproth, Assistant Secretary of the US Department of the Treasury, and briefed him on Pakistan’s improving macroeconomic indicators.
He highlighted ongoing reforms in taxation, energy, privatization, state-owned enterprises (SOEs), pensions, and debt management.
The Minister underscored the significance of the World Bank’s Country Partnership Framework (CPF) in addressing Pakistan’s critical challenges, including population growth and climate resilience.
Earlier in the day, at a luncheon hosted by the US-Pakistan Business Council at the US Chamber of Commerce, the Finance Minister engaged with American corporate leaders, detailing Pakistan’s economic progress and reform measures in taxation, energy, SOEs, and privatisation.
He emphasised the importance of regional trade, market diversification, and sectoral expansion.
He thanked the US delegation for participating in the Pakistan Mineral Investment Forum 2025 and expressed Pakistan’s commitment to continued collaboration in the mining and minerals sector.
