Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, participated in a meeting convened by the Managing Director of the International Monetary Fund (IMF) with Finance Ministers, Central Bank Governors, and heads of regional financial institutions from the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, on the sidelines of the World Bank–IMF Spring Meetings 2026.
In his intervention, the Finance Minister characterized the ongoing crisis in the Middle East as one of the most significant supply shocks in recent history. He outlined the immediate measures undertaken by the Government of Pakistan to address its first-order effects, including adjustments in procurement strategies, pricing frameworks, and logistics chains.
Senator Aurangzeb underscored the Government’s commitment to transitioning away from broad-based subsidies towards well-targeted support mechanisms aimed at protecting the most vulnerable segments of the population. He noted that the Government, in close coordination with the State Bank of Pakistan, is conducting a comprehensive assessment of the second and third-order effects of the crisis across key macroeconomic indicators, including inflation, economic growth, exports, remittances, and the current account.
The Finance Minister highlighted that Pakistan has entered the current period of global uncertainty with strengthened policy buffers and has drawn important lessons from past external shocks, including the devastating floods in recent years.
Reaffirming the Government’s commitment to its structural reform agenda, Senator Aurangzeb emphasized that any necessary policy recalibration would be undertaken in a responsible manner, without compromising the hard-won gains in macroeconomic stability.
He concluded his remarks by expressing appreciation for the continued engagement and support of the IMF leadership.
