1. Federal Minister for Finance and Revenue Muhammad Aurangzeb’s Participation in World Bank Roundtable
2. Meeting with Moody’s Investor Service: Pakistan’s Economic Indicators and Stabilization
3. Roundtable with Investors: Highlighting Pakistan’s Economic Outlook and Reform Agenda
4. Discussion with Saudi Fund for Development CEO on Economic Cooperation
5. Meeting with UK Minister of State for Development and Africa: Strengthening Bilateral Relations
6. Talks with Citibank Officials: Positive Economic Indicators and Commitment to Reforms
7. Media Engagements and Delegation at IMF/World Bank Spring Meetings
Federal Minister for Finance and Revenue Muhammad Aurangzeb has been making waves at the World Bank Group-IMF Spring Meetings in Washington D.C. with his proactive engagement and strategic discussions with key stakeholders.
During the “Roundtable on Implementing for Faster Results and Greater Impact” organized by the World Bank, Minister Aurangzeb praised the World Bank’s Thought Leadership and its insightful report titled “From Swimming in the Sand to High and Sustainable Growth.” The report outlined a roadmap for Pakistan to achieve high-middle-income status by 2047, with the economy potentially growing from US$ 300 billion to US$ 3 trillion. The Minister highlighted the alignment of the World Bank’s focus on climate change, digitalization, and human development with the government’s priorities.
In a meeting with Moody’s Investor Service representatives, Minister Aurangzeb showcased Pakistan’s economic progress and stabilization achieved through the Stand-by Arrangement with the IMF. He emphasized key government priorities such as tax and energy sector reforms, privatization, and tapping international capital markets for economic growth.
The Minister also engaged with investors to highlight Pakistan’s stable macroeconomic indicators and reform agenda, emphasizing declining inflation rates, stable currency, robust agriculture sector growth, and strong remittance inflows. He expressed the government’s intention to enter into an extended program with the IMF and discussed potential investment opportunities in Pakistan.
Furthermore, Minister Aurangzeb met with Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, to explore avenues for enhanced economic cooperation between Pakistan and Saudi Arabia. Discussions included funding ongoing projects like the Diamer Bhasha Dam and the N-25 highway, showcasing Pakistan’s investment potential to Saudi investors.
Additionally, the Minister met with UK’s Minister of State for Development and Africa, Andrew Mitchell, to discuss bilateral relations and potential investment opportunities. He invited British International Investment to invest in Pakistan and thanked the UK Minister for planning a visit to Pakistan in August 2024.
In talks with Citibank officials, Minister Aurangzeb highlighted positive economic indicators and the government’s commitment to short-term and long-term reforms in taxation, energy sector, and SOEs. The Minister also engaged with media outlets Reuters and CGTN to further communicate Pakistan’s economic progress and investment opportunities.
Minister Aurangzeb is leading Pakistan’s delegation at the IMF / World Bank’s 2024 Spring Meetings, accompanied by key officials including Finance Secretary Imdadullah Bosal, Governor of State Bank of Pakistan Jameel Ahmed, and Senior Joint Secretary Adil Akbar Khan. The Minister’s proactive engagement and strategic discussions with key stakeholders reflect Pakistan’s commitment to sustainable economic growth and development on the global stage.
