Aurangzeb reaffirms reform agenda in MENAP meeting

Highlights progress on taxation, energy, and SOEs; invites global investment in mining, digital and agri-sectors

ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed the government's commitment to pursuing reforms in taxation, energy, State-Owned Enterprises (SOEs), and privatisation.

Addressing the MENAP Ministers and Governors Meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings, Aurangzeb said Pakistan had achieved macroeconomic stabilisation. He expressed satisfaction over the Staff-Level Agreement (SLA) reached with the IMF and reiterated the government's resolve to sustain structural reforms.

The minister highlighted Pakistan's digital transformation journey and tariff policy aimed at enhancing competitiveness and exports. He invited investments in minerals, mining, digital infrastructure, agriculture, oil and gas, and pharmaceuticals.

Aurangzeb also attended the Citi Macro Forum organised by Citibank, joined by the finance secretary and the SBP governor. He briefed investors on fiscal, monetary, and external developments, emphasising the positive momentum supported by stabilisation measures and tight monetary management. He also highlighted progress on trade talks with the United States and engaged investors during a Q&A session.

The minister held meetings with officials from the US government, IMF, World Bank, Saudi Fund for Development (SFD), and leading investors. In talks with Emory Cox, Ricky Gill, and Pierre Yared at the White House, he discussed translating growing trade consensus into a broader economic partnership and leveraging opportunities in energy, agriculture, technology, and digital assets.

Aurangzeb thanked the US for its condolences over flood losses and later met SFD CEO Sultan Abdulrahman Al-Marshad to reaffirm the Pakistan-Saudi partnership. He sought collaboration on projects including the Hyderabad-Sukkur Motorway, ML-1, skills development, and IT infrastructure.

He also met IMF Deputy Managing Director Nigel Clarke, appreciating the Fund's support in the Extended Fund Facility and Resilience and Sustainability Trust reviews.

At the G-24 meeting, Aurangzeb highlighted Pakistan's macroeconomic stability and the importance of regional trade and climate cooperation. He also met World Bank Vice President Ousmane Dione to review the Country Partnership Framework, seeking support for flood mitigation programmes.

In a meeting with Mashreq Bank CEO Ahmed Abdelaal, he welcomed the bank's market entry and reaffirmed Pakistan's commitment to fostering a dynamic financial ecosystem.