Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a series of high-level meetings in Davos on the sidelines of the World Economic Forum Annual Meeting, focusing on Pakistan’s economic reform agenda, strengthening international partnerships, and promoting investment-led growth.
According to an official statement issued on Wednesday, the finance minister met Masato Kanda, President of the Asian Development Bank, to review progress on Pakistan’s ongoing economic reforms and explore ways to deepen cooperation between Pakistan and the multilateral lender. During the meeting, the ADB president said Pakistan was entering an important phase of economic transformation, citing renewed momentum in reforms and improving market confidence. He highlighted ADB’s expanding engagement in Pakistan and reaffirmed the institution’s commitment to continued support through close coordination with the government.
Senator Aurangzeb thanked the ADB president for his continued support and guidance, noting that Pakistan’s relationship with the Bank had entered a more strategic phase. He said the past year marked a decisive shift toward macroeconomic stability and that the positive trajectory was continuing. The finance minister pointed to easing inflation, declining policy rates, strengthening foreign exchange reserves, and improving investor sentiment as key indicators reflecting renewed confidence in the reform process.
The finance minister also briefed the ADB president on progress in structural reforms, particularly the government’s focus on privatisation and expanding private sector participation. He said recent initiatives had generated market interest and helped establish benchmarks, with additional projects in the pipeline across multiple sectors. Aurangzeb stressed the importance of sustained engagement with development partners, including ADB, to support reforms and unlock long-term economic growth.
Discussions further covered reforms in the energy sector and efforts to promote sustainable and clean energy solutions. The finance minister outlined measures aimed at improving efficiency and strengthening institutional systems to support long-term economic sustainability. Both sides agreed to maintain close coordination to identify practical solutions for inclusive growth, while the ADB president emphasized the importance of private sector participation and timely delivery of development outcomes.
Separately, Senator Aurangzeb met Hassan El Houry, Chairperson of Menzies Aviation, to discuss potential cooperation in Pakistan’s aviation sector. The meeting focused on airport services, operational efficiency, and investment opportunities linked to the government’s reform and privatisation agenda.
The finance minister briefed El Houry on privatisation plans, including progress related to Pakistan International Airlines and proposals to outsource operations at major airports in Islamabad, Karachi, and Lahore. He said recent macroeconomic improvements had helped create a more conducive environment for private investment and international partnerships.
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