Pakistan committed to combating poverty, climate issues: FinMin at Davos

Finance Minister Muhammad Aurangzeb emphasised Pakistan's commitment to sustainable development during a high-level discussion at the World Economic Forum (WEF) on global debt challenges faced by developing economies.

Aurangzeb highlighted efforts to reduce government expenditures and debt servicing, noting the debt-to-GDP ratio had dropped from 78% to 67%. “Pakistan aims to address rising population, poverty, and environmental issues while pursuing sustainable economic growth,” he said.

The minister discussed Pakistan’s 10-year partnership programme with the World Bank and shared plans to promote business-to-business engagement under the second phase of the China-Pakistan Economic Corridor (CPEC).

“Chinese companies will be encouraged to relocate production units to Pakistan, potentially making it a hub for exports,” he added.

Discussions focused on collaborative efforts to improve nutrition, health, and polio eradication in Pakistan. The minister reiterated the government’s dedication to advancing these initiatives through a strengthened partnership with the foundation.