Pakistan’s Finance Minister, Muhammad Aurangzeb, today urged the United States to transform the growing consensus on trade into a more comprehensive economic partnership, signaling a push for deeper financial ties between the two nations during high-level talks in the American capital.
In a significant meeting with the U.S. President’s Special Assistant for International Economic Relations, Emory Cox, and other officials, discussions centered on leveraging investment opportunities. The dialogue specifically focused on attracting American capital into Pakistan”s energy, minerals, agriculture, technology, IT, and digital assets sectors.
Concurrently, Aurangzeb engaged with the International Monetary Fund (IMF), meeting with Deputy Managing Director Nigel Clarke. The minister acknowledged the IMF”s positive assessment of Pakistan”s program performance and reiterated the government”s unwavering resolve to maintain the current trajectory of economic stability and reform.
Strengthening ties with another key ally, the finance minister met with Sultan Abdulrahman Al-Marshad, the CEO of the Saudi Fund for Development (SFD). Reaffirming the strategic partnership with the Kingdom of Saudi Arabia, Aurangzeb expressed gratitude for the Saudi Oil Facility and sought further collaboration. He proposed joint efforts on major infrastructure ventures, including the Hyderabad-Sukkur Motorway (M-6) and the Main Line-1 (ML-I) railway project, alongside initiatives in skills development and IT.
During his address at the G-24 Ministers and Governors’ Meeting, the minister highlighted the macroeconomic stability Pakistan has achieved. He attributed this progress to fundamental structural reforms in the crucial areas of taxation, energy, and the management of state-owned enterprises (SOEs).
In an effort to attract private capital, Aurangzeb also led a roundtable with prominent institutional investors hosted by Jefferies International. He provided participants with a detailed briefing on Pakistan”s economic outlook, outlining fiscal and monetary developments, external sector dynamics, and the country”s ongoing engagement with the IMF.
Further reinforcing cooperation with global financial bodies, the minister held talks with Ousmane Dione, the World Bank”s Regional Vice President for the MENAAP region. Aurangzeb reaffirmed the government’s commitment to the successful and effective implementation of the newly launched Country Partnership Framework (CPF).