{"id":27870,"date":"2025-04-23T06:45:11","date_gmt":"2025-04-23T06:45:11","guid":{"rendered":"https:\/\/theasiantelegraph.global\/?p=27870"},"modified":"2025-04-23T06:45:12","modified_gmt":"2025-04-23T06:45:12","slug":"reaffirms-pakistans-dedication-to-engaging-with-international-institutions-fm","status":"publish","type":"post","link":"https:\/\/theasiantelegraph.global\/?p=27870","title":{"rendered":"Reaffirms Pakistan\u2019s Dedication to Engaging with International Institutions, FM"},"content":{"rendered":"\n
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Washington DC :  Finance Minister Senator Muhammad Aurangzeb engaged in a series of high-level meetings on the second day of his visit to Washington, D.C., for the annual spring meetings of the International Monetary Fund (IMF) and the World Bank, focusing on Pakistan\u2019s economic stability, ongoing reforms, and investment opportunities.<\/p>\n\n\n\n

Minister Aurangzeb began his day by participating in the G-24 Finance Ministers and Central Bank Governors\u2019 Meeting. As the Second Vice Chair of the G-24, he delivered a statement highlighting Pakistan\u2019s macroeconomic stability, achieved through resilient banking systems and sustained structural reforms. He emphasized the need to stay the course on reforms amidst global economic challenges, including geopolitical dynamics, trade fragmentation, and protectionism. Additionally, he underscored the importance of regional corridors, trade connectivity, and South-South collaboration to enhance investment and trade flows.<\/p>\n\n\n\n

During an IMF-hosted panel discussion titled \u201cRevenue Mobilization in the Medium Term,\u201d the finance minister outlined Pakistan\u2019s efforts to broaden and deepen the tax base to ensure that sectors like agriculture, real estate, and retail contribute proportionally to GDP.<\/p>\n\n\n\n

\u201cThese strategies include enhancing contributions from key economic sectors, transforming the Federal Board of Revenue (FBR) through technological advancements and process improvements, minimizing taxpayer-collector interface, strengthening enforcement and compliance, and utilizing AI for customized audits,\u201d said the finance minister.<\/p>\n\n\n\n

Later, Minister Aurangzeb participated in a fireside chat at the Atlantic Council\u2019s GeoEconomics Center, addressing \u201cChallenges and Opportunities for the Pakistani Economy through 2025 and Beyond.\u201d He outlined the government\u2019s reform agenda, which includes digitalization of FBR, enhanced provincial involvement in the tax collection, and provinces\u2019 legislation on the Agriculture Income Tax.<\/p>\n\n\n\n

\u201cThrough ongoing efforts to rationalize federal spending and collaborate with provinces under a National Fiscal Pact, we\u2019re building sustainable economic foundations,\u201d added the Minister.<\/p>\n\n\n\n

The finance minister also addressed climate and population challenges, highlighting the World Bank\u2019s 10-year Country Partnership Framework (CPF) for Pakistan. The Minister affirmed the government\u2019s commitment to launching the Panda Bond and appreciated multilateral institutions\u2019 efforts in ensuring better coordination on risk analysis and due diligence.<\/p>\n\n\n\n

\u201cWe are finalizing a green taxonomy framework through the State Bank, paving the way for innovative instruments such as green bonds, green sukuks, and the country\u2019s inaugural Panda bond, proceeds of which will be linked to SDG-aligned projects,\u201d said Senator Aurangzeb.<\/p>\n\n\n\n

Expressing the government\u2019s desire for improved trade relations with the U.S., Mr. Aurangzeb emphasized plans for constructive engagement with the U.S. to address trade imbalances, with a high-level delegation expected to visit soon.<\/p>\n\n\n\n

In a meeting with institutional investors, Minister Aurangzeb provided updates on Pakistan\u2019s economic outlook, fiscal and monetary developments, and reform progress. He highlighted the country\u2019s macroeconomic stabilization and the recent credit rating upgrade by Fitch, which has opened avenues for Pakistan\u2019s return to financial markets through enhanced investor confidence.<\/p>\n\n\n\n

The finance minister also met with Mr. Martin Raiser, the World Bank\u2019s Vice President for South Asia, where he expressed gratitude for the approval of the 10-year CPF. They discussed accelerated operationalization of the CPF, need for increased private sector investment, and importance of addressing project implementation bottlenecks.<\/p>\n\n\n\n

Furthermore, Minister Aurangzeb held a meeting with the Deutsche Bank team, led by Ms. Myriam Ouazzani, Managing Director for the MENA region. He expressed Pakistan\u2019s interest in returning to financial markets, including the issuance of Panda and ESG bonds, based on the country\u2019s improved macroeconomic stability and credit ratings.<\/p>\n\n\n\n

Separately, during talks with Moody\u2019s commercial team, the finance minister briefed them on Pakistan\u2019s fiscal and current account surpluses, declining inflation, stable exchange rates, and foreign reserves. Discussions also covered the Panda Bond initiative, with both sides agreeing to explore future collaboration.<\/p>\n\n\n\n

In an important and productive meeting with H.E. Sultan bin Abdulrahman Al-Murshid, CEO of the Saudi Fund for Development (SFD), Finance Minister Aurangzeb recalled his visit to Saudi Arabia for the Al-ula Conference on Emerging Markets and his meeting with the Saudi Finance Minister. He briefed H.E. Al-Murshid on Pakistan\u2019s improving macroeconomic indicators, including the recent credit rating upgrade by Moody\u2019s.<\/p>\n\n\n\n

Expressing appreciation for the G2G and B2B interest in investment projects in Pakistan, Minister Aurangzeb requested the expedited disbursement of funds under the Saudi Oil Facility, assuring prompt submission of oil shipment documentation. Both sides reviewed the existing portfolio, expressing satisfaction over the progress, with the finance minister seeking financial support from SFD for the N-25 project.<\/p>\n","protected":false},"excerpt":{"rendered":"

Washington DC :  Finance Minister Senator Muhammad Aurangzeb engaged in a series of high-level meetings on the second day of his visit to Washington, D.C., for the annual spring meetings… <\/p>\n","protected":false},"author":8,"featured_media":27871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,13],"tags":[2383,2373],"class_list":["post-27870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-main-stories","tag-federal-minister-for-finance-pakistan","tag-pakistan-usa-business-community"],"_links":{"self":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/27870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27870"}],"version-history":[{"count":1,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/27870\/revisions"}],"predecessor-version":[{"id":27872,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/27870\/revisions\/27872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/media\/27871"}],"wp:attachment":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}