Washington, D.C.: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in discussions with the senior leadership of Franklin Templeton during the World Bank-IMF Spring Meetings in Washington, D.C., focusing on the nation’s privatization efforts and strategies for re-entering international capital markets.

According to Press Information Department, the Finance Minister informed the delegation about the Government’s ongoing privatization initiative, which includes transferring control of 28-29 state-owned enterprises to the Privatization Commission. Discussions also covered the outsourcing of major airports in Islamabad, Karachi, and Sialkot, along with the privatization of electricity distribution companies.

In terms of capital markets, the Finance Minister detailed the Global Medium-Term Note (GMTN) programme and announced forthcoming requests for proposals for lead managers. He indicated Pakistan’s intention to re-engage with international capital markets after a four-year hiatus, while exercising caution regarding pricing and timing due to market volatility.

The minister also highlighted the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) and the issuance of No Objection Certificates to Binance and other virtual asset service providers, following the reversal of the 2018 banking restrictions on cryptocurrency by the State Bank of Pakistan.

Additionally, the Finance Minister expressed an interest in developing a structured training programme for officials from the State Bank of Pakistan and the Ministry of Finance to enhance their capabilities.