Islamabad (Staff Reporter)
Federal Minister for Finance, Senator Muhammad Aurangzeb, has welcomed the successful conclusion of tariff negotiations with the United States, calling it a positive step towards deepening bilateral trade and economic cooperation. He emphasized that Pakistan’s economic development depends on a leading role from the private sector, and the government is fully aware of the challenges faced by the business community, working actively to provide maximum relief.
During his ongoing visit to Washington, D.C., where he is attending the annual meetings of the IMF and the World Bank, the Finance Minister held multiple high-level engagements. These included meetings with Robert Kaproth, U.S. Assistant Secretary for International Finance at the Department of the Treasury, and Jonathan Greenstein, senior advisor, as well as key members of the U.S.–Pakistan Business Council.
In these meetings, Minister Aurangzeb briefed U.S. officials on Pakistan’s economic reforms under the IMF program and legislative developments concerning virtual asset regulation. He invited American businesses to explore investment opportunities in energy, minerals, agriculture, and information technology sectors.
Highlighting recent improvements in Pakistan’s economic indicators, he reiterated that a strong private sector is essential to achieving sustainable economic progress. The Finance Minister expressed a desire to enhance public-private partnerships, particularly in pharmaceuticals, mining, agriculture, and IT.
He described the recent trade agreement with the U.S. as a significant milestone and expressed optimism about increased business-to-business and government-to-business linkages with American companies.
During a Q&A session with participants, the Minister assured them that the government would address their legitimate concerns and continue to engage closely with stakeholders to improve the investment climate.
The Finance Minister also held a meeting with representatives from Citibank, where he appreciated the bank’s longstanding relationship with Pakistan and ongoing support. He briefed the delegation on Pakistan’s improving macroeconomic stability, aided by reform efforts and endorsements from international credit rating agencies. He also highlighted Pakistan’s emergence as a growing hub for digital innovation and financial services, and welcomed further input from the bank.
Earlier in the day, Minister Aurangzeb met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC). The Minister highlighted the importance of the 10-Year Country Partnership Framework, under which billions of dollars in private sector investment are being mobilized, and appreciated IFC’s support in this regard. Both parties agreed to expedite the financial arrangements of the Reko Diq project, and the Minister welcomed IFC’s decision to establish a new regional office in Islamabad.
In another key meeting, Minister Aurangzeb met with Dr. Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank (IsDB). He thanked the IsDB for its continued support to Pakistan and stressed the need to accelerate the implementation of ongoing development projects. The Minister expressed gratitude for the approval of financing for two sections of the M-6 Motorway and hoped for continued collaboration in polio eradication and oil financing facilities. Both sides agreed to work on a new Country Engagement Framework for future cooperation.
These engagements reflect Pakistan’s proactive approach to strengthening international partnerships, encouraging private investment, and ensuring sustainable economic reform.