Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, met with Mr. Jin Liqun President, Asia Infrastructure Investment Bank (AIIB). Briefed him on the positive economic indicators of the country including improving foreign exchange reserves, stable currency, declining inflation, surging stock market and renewed institutional/ foreign inflows into the market on the back of 9-month Standby Arrangement (SBA) with IMF. Informed that Pakistan wanted to enter into a larger and extended programme with IMF. Identified broadening tax reforms, fixing the energy sector and undertaking SOE reforms as key priorities of the government. Appreciated AIIB support in the aftermath of devastating floods in particular the co-financing of $250 million with the RISE-II programme of the World Bank. Reaffirmed commitment to continue working with AIIB on the infrastructure development of Pakistan. Appreciated the additional commitment of $500 million of project assistance and satisfactory progress on project implementation and disbursements.
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