Pakistan’s Finance Minister, Muhammad Aurangzeb, recently concluded a productive visit to Washington, securing key agreements and exploring avenues for international cooperation.
In a significant development, Pakistan and the World Bank agreed to implement a 10-year rolling Country Framework Plan. This long-term strategy aims to guide Pakistan’s economic stability and progress over the next decade. World Bank President Ajay Banga pledged the bank’s full support for Pakistan’s economic reforms and digitalization initiatives, recognizing technology’s role in strengthening the economy.
Minister Aurangzeb also met with Hela Cheikhrouhou, a regional leader at the International Finance Corporation (IFC). Their discussions focused on structural reforms in key areas like taxation, energy, and privatization. They acknowledged the IFC’s role in improving Pakistan’s investment climate and access to finance. Additionally, collaboration opportunities in sectors like remittances, mining, and airport management were explored.
At the G-24 meeting, Minister Aurangzeb championed sustainable economic growth, financial stability, and private sector involvement. He emphasized Pakistan’s commitment to reforms and highlighted the challenges posed by climate change. He urged leveraging financial mechanisms like the Adaptation Fund to address these issues.
The Minister’s visit also included discussions with the Saudi Arabian Finance Minister, Mohammed Al-Jadaan. They expressed gratitude for Saudi Arabia’s unwavering support and explored avenues for strengthening economic ties. Furthermore, meetings with representatives from the World Bank, U.S. International Development Finance Corporation (DFC), Asian Development Bank (ADB), and Türkiye focused on collaboration, investment opportunities, and continued support for Pakistan’s development goals.
Minister Aurangzeb’s engagements solidify Pakistan’s commitment to economic reforms, sustainable development, and international collaboration. These efforts aim to address key challenges and foster long-term economic growth.