Washington D.C, Mr. Muhammad Aurangzeb, Pakistan’s Federal Minister for Finance and Revenue, engaged in pivotal discussions with representatives of S and P Global and Fitch Ratings during the IMF/World Bank Spring Meetings. The minister detailed Pakistan’s economic progress under the recent Standby Arrangement with the International Monetary Fund (IMF) and outlined ongoing governmental reforms across several sectors.

According to Press Information Department, Minister Aurangzeb provided updates on the country’s initiatives in taxation, energy, and privatization aimed at impacting the short, medium, and long-term economic landscape. His discussions also covered engagements with high-ranking officials from global financial institutions such as the IMF, World Bank, Asian Infrastructure Investment Bank (AIIB), and Asian Development Bank (ADB), emphasizing alignment with the World Bank’s focus on climate change, digitalization, and human development.

In his meetings, the Finance Minister addressed concerns raised by the rating agencies regarding Pakistan’s external financial position, inflation, fiscal balance, and interest rate policies. He also highlighted upcoming investments from Saudi Arabia. Aside from his agency meetings, Minister Aurangzeb interacted with staff at the Pakistani Embassy, participated in media interviews with Voice of America and The National, and held a press conference for Pakistani media. Leading Pakistan’s delegation, which includes notable figures such as Finance Secretary Imdadullah Bosal and Governor of the State Bank of Pakistan, Mr. Jameel Ahmed, the minister’s engagements at the Spring Meetings are crucial for discussing global economic trends and collaborative strategies.