Washington, D.C.: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, addressed the Citi Macro Forum, which was attended by institutional investors. The forum provided a platform for the Finance Minister to brief investors on Pakistan’s economic strategy and ongoing engagements with international financial institutions.

According to Press Information Department, the Finance Minister confirmed the achievement of a Staff-Level Agreement for the third review under the Extended Fund Facility and the second review under the Resilience and Sustainability Facility. The approval by the Executive Board of the International Monetary Fund is anticipated in early May.

The Finance Minister described the Middle East crisis as a significant supply shock and detailed the Government’s response, including measures to address immediate effects and coordination with the State Bank of Pakistan on subsequent impacts. He acknowledged the financial support from the Kingdom of Saudi Arabia and confirmed the launch of Pakistan’s Global Medium-Term Note programme. This initiative includes issuing requests for proposals for lead managers across Eurobonds, Islamic Sukuk, and a new dollar-settled, rupee-linked bond.

Additionally, the Finance Minister announced that Pakistan’s inaugural Panda Bond issuance is targeted for May, facilitated by agreements with the Asian Development Bank and the Asian Infrastructure Investment Bank. Reflecting on the current crisis, he emphasized the need for strategic petroleum reserves and a shift towards renewable energy. He also pointed to emerging opportunities, including increased transit volumes at Karachi Port and the potential development of Gwadar as a strategic trade corridor.