Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in a meeting with H.E. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs of the United Arab Emirates, to discuss economic cooperation and regulatory frameworks.

During the meeting, Minister Aurangzeb shared updates on Pakistan’s economic indicators, highlighting a recent sovereign rating upgrade by Fitch. He also outlined the government’s privatization agenda and detailed the progress made on Pakistan’s Extended Fund Facility (EFF) with a Staff-Level Agreement now in place. Additionally, a new arrangement under the Resilience and Sustainability Facility (RSF) was discussed.

Minister Aurangzeb expressed appreciation for the investment interest from UAE investors, both at the government-to-government and business-to-business levels. He stressed the need for converting existing Memorandums of Understanding into actionable agreements.

An area of interest for Minister Aurangzeb was the regulation of cryptocurrency, where he expressed a desire to learn from the UAE’s regulatory experience. In a gesture aimed at further strengthening bilateral ties, he extended an invitation to his UAE counterpart to visit Pakistan.

This meeting underscores the ongoing efforts to enhance financial collaboration between Pakistan and the United Arab Emirates, focusing on sustainable economic growth and technological advancements in financial sectors.