ISLAMABAD (Staff Reporter)
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said on Friday that Pakistan’s relations with the United States are entering a new phase, its long-standing partnership with China continues to deepen, and its strategic cooperation with Saudi Arabia is growing stronger. He emphasized that promoting, stabilizing, and safeguarding foreign investment through sustainable policies and fiscal discipline remains a top priority for the government.
The minister made these remarks during a meeting with Robert Louis Strayer, President of the U.S. Critical Minerals Forum, held in Islamabad. U.S. Chargé d’Affaires Natalie Baker and senior officials from the Ministry of Finance and related institutions were also present.
The meeting discussed opportunities for cooperation in Pakistan’s mineral and mining sectors, strengthening supply chains, and promoting responsible and sustainable investment.
Welcoming the delegation, Minister Aurangzeb highlighted Pakistan’s improving macroeconomic indicators and stable economic trajectory. He noted that the government’s consistent financial discipline has helped restore investor confidence, resulting in positive signals from global rating agencies.
He explained that the government has initiated comprehensive structural reforms, including power sector restructuring, tax system improvements, expansion of the tax net, and a clear roadmap for fiscal consolidation. The minister also mentioned the establishment of a Tax Policy Unit in the Ministry of Finance to separate policymaking from administrative functions, thereby improving governance.
Aurangzeb added that 24 state-owned enterprises have been handed over to the Privatization Commission to enhance efficiency and strengthen fiscal discipline.
He stated that Pakistan currently stands at a positive juncture in its global relations, with deepening engagement with the U.S., enduring partnership with China, and expanding strategic cooperation with Saudi Arabia. He identified the mineral and mining sectors as key drivers of Pakistan’s future economic transformation — shifting the economy from an import-based to an export-oriented model. “A robust mineral policy can help Pakistan overcome recurring external imbalances and reduce reliance on international institutions,” he said.
Robert Louis Strayer briefed the minister on the forum’s objectives, particularly its role — with U.S. government support — in promoting transparent and secure mineral supply chains globally, especially in developing markets. He said the forum is focusing on critical minerals such as copper and antimony to mitigate financial and security risks, while ensuring technology transfer, intellectual property protection, and investor confidence.
The U.S. delegation acknowledged Pakistan’s talent in science, engineering, and mathematics as a major national asset and projected Pakistan as a potential regional hub for critical mineral development. U.S. Chargé d’Affaires Natalie Baker reaffirmed her country’s commitment to supporting American commercial engagement in Pakistan and emphasized the importance of investor confidence and a strong regulatory framework in the minerals sector.
In response to questions, Minister Aurangzeb said Pakistan is working on legal and regulatory reforms and would welcome formal proposals from the Critical Minerals Forum for cooperation. He expressed appreciation for the forum’s efforts to present a detailed framework for responsible and mutually beneficial investment.
The finance minister also briefed the delegation on his recent meetings in Washington with global financial institutions, including the DFC and IFC, which expressed renewed interest in expanding investment in Pakistan. He thanked the U.S. Embassy for its continued support.
Both sides reaffirmed their commitment to advancing collaboration in the minerals sector, aligning it with Pakistan’s economic reform agenda and shared goals for sustainable development.