Washington DC : Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has welcomed successful negotiations with the US administration leading to a tariff deal.
He expressed these sentiments during a meeting Robert Kaproth, Assistant US Treasury Secretary for International Finance and Counselor Jonathan Greenstein here in Washington D.C., where he has arrived to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB).
During the meeting, the Finance Minister highlighted strong economic fundamentals of the country underpinned by the IMF programme. He briefed the Treasury officials about the legislation to regulate virtual assets in Pakistan. He also invited US companies to invest in the oil & gas, mineral, agriculture and IT sectors in Pakistan.
Later in the day, Finance Minister Senator Muhammad Aurangzeb was hosted by the leadership and members of the US-Pakistan Business Council. Speaking on the occasion, the Finance Minister briefed the participants about improvements in the macroeconomic indicators of Pakistan. He also underlined that the private sector has to lead the country.
The Finance Minister reiterated that the Government of Pakistan was conscious of the challenges being faced by the businesses and working to provide maximum relief. He highlighted the trade deal negotiated with the US authorities, saying he looked forward to enhanced G2G and B2B engagements with US companies in priority sectors including mines & minerals, agriculture, IT, and pharmaceuticals. He concluded the session with a Q&A assuring to address the genuine concerns raised.
Meanwhile, Finance Minister Senator Muhammad Aurangzeb met with representatives of Citi Bank. During the meeting, the Minister acknowledged Citi’s long-standing partnership with Pakistan and appreciated its continued engagement. He also provided an overview of Pakistan’s stabilizing macroeconomic indicators driven by ongoing structural reforms, validated by all international credit rating agencies. He further highlighted Pakistan’s emergence as a growing hub for digital innovation and financial services. Assured that Government would review all proposals presented by the Bank.
Earlier, the Finance Minister began his official engagements of the day with a meeting with Mr. Riccardo Puliti, Regional Vice President, IFC for the Middle East, Central Asia, Türkiye, Afghanistan & Pakistan. During the meeting, the Minister highlighted strong macroeconomic indicators of the country.
Senator Aurangzeb appreciated IFC’s partnership with Pakistan, its role in scaling up private sector investment including through multi-billion-dollar investments in support of the 10-year Country Partnership Framework (CPF). He agreed to achieve early financial closure of the IFC’s flagship Reko Diq project. He also welcomed the new regional set-up of IFC with a regional office in Islamabad.
Finance Minister Muhammad Aurangzeb also held a productive meeting with Dr. Muhammad Sulaiman Al-Jasser, President, Islamic Development Bank (IsDB. The Minister thanked the Bank for its longstanding assistance and support to Pakistan. He reviewed the current portfolio of the Bank projects in Pakistan and underscored the importance of faster project implementation.
Minister Aurangzeb thanked the President ISDB for IsDB board approval of financing of two sections of M-6. He said he looked forward to a continued cooperation in polio eradication efforts of Pakistan and Oil financing facility. Both sides agreed on the need to have a new Country Engagement Framework for Pakistan (CEF).
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
