Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the Fitch Ratings team in Washington, D.C. on the sidelines of the IMF-World Bank Spring Meetings.
The Minister thanked Fitch Ratings for upgrading Pakistan’s sovereign credit rating from CCC+ to B-, which reflects the country’s improved macroeconomic outlook and fiscal consolidation. He noted that this upgrade would facilitate Pakistan’s return to the international financial markets.
He also briefed the team on the progress being made under the Government’s structural reform agenda, particularly in the areas of energy, taxation, State-Owned Enterprise (SOE) reforms, public finance, and debt management.
The discussion included responses to Fitch’s queries regarding tariff reforms, improvements in tax administration, and efforts to enhance revenue mobilization.
