Pakistan’s Finance Minister, Muhammad Aurangzeb, participated in the World Bank Group-IMF Spring Meetings in Washington D.C., seeking to attract investment and improve the country’s economic standing.
At a World Bank roundtable, Aurangzeb praised the “From Swimming in the Sand to High and Sustainable Growth” report, highlighting its roadmap for transforming Pakistan into a high-middle-income nation by 2047. The report projects a surge in the economy, with GDP potentially rising from over $300 billion to a staggering $3 trillion. The focus on climate change, digitalization, and human development aligns with the government’s key priorities.
Aurangzeb addressed investors, showcasing Pakistan’s improving economic indicators. He pointed to declining inflation, a stable currency, robust growth in agriculture, rising foreign exchange reserves, and a thriving stock market. The government’s commitment to reforms in taxation, energy, and privatization was emphasized, while also expressing an intention to pursue a larger, extended program with the IMF. Investors responded positively to these efforts and expressed interest in exploring Pakistani investment opportunities.
Meetings were held with representatives from Moody’s Investor Service, the Saudi Fund for Development (SFD), and the UK’s Minister of State for Development and Africa. Discussions focused on improving Pakistan’s credit rating, enhancing economic cooperation with Saudi Arabia, and attracting British investment, particularly through British International Investment (BII).
Aurangzeb also participated in media interviews with Reuters and China Global Television Network (CGTN), highlighting Pakistan’s economic progress and commitment to reform.
Overall, the Finance Minister’s participation in the Spring Meetings aimed to secure investment, improve Pakistan’s economic image, and build stronger international partnerships to support the country’s ambitious growth targets.