Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a series of high-level engagements with international investors, a sovereign credit rating agency, multilateral financial institutions, development partners and government counterparts on the sidelines of the IMF–World Bank Annual Meetings in Bangkok, highlighting Pakistan’s macroeconomic stabilization, structural reform agenda and commitment to sustainable, export-led growth.
At the JP Morgan Investment Seminar, titled “Pakistan: The Road to Resilience in a Turbulent Global Economy Landscape,” the Finance Minister highlighted progress in fiscal consolidation, revenue mobilization and sustained primary surpluses. He underscored strong remittances, improved foreign exchange reserves and a contained current account deficit, while outlining efforts to replace costly borrowing with longer-maturity financing without increasing the external debt stock. He reaffirmed Pakistan’s commitment to the IMF programme, prudent monetary policy, targeted support for vulnerable households and reforms to strengthen exports, trade and investment.
In a meeting with Moody’s representatives, the Minister discussed Pakistan’s economic outlook and sovereign credit profile, welcoming the recent rating upgrade and improved fiscal and external indicators. He highlighted renewed access to international capital markets, rising foreign exchange reserves and reduced State Bank forward liabilities. He also outlined the government’s commitment to structural reforms and sustainable growth beyond the IMF programme, while seeking Moody’s perspectives on further strengthening Pakistan’s credit rating.
During his participation in the Bank of America (BoFA) Small Talks Symposium, Senator Aurangzeb highlighted Pakistan’s improving external position, positive net international reserves under the IMF definition and renewed access to international markets. He outlined reforms in tax administration, broadening the tax base and privatization, alongside tariff reforms, competitive inputs and targeted financing to promote export-led growth. Discussions also covered managing regional conflict, energy-price pressures and climate-related shocks while sustaining investor confidence.
In a meeting with UN Deputy Secretary-General Ms. Amina J. Mohammed, the Finance Minister discussed development financing, debt sustainability and climate resilience. Both sides emphasized adequate financing for the Sustainable Development Goals, poverty reduction, social protection and decent jobs. The Minister underscored the need for simpler access to climate finance, stronger capacity to prepare bankable projects, local-currency financing to mitigate exchange-rate risks and a stronger voice for developing countries in international financial institutions. He also highlighted the importance of strengthening the Borrowers’ Forum through peer learning, institutional continuity and an effective virtual Secretariat. He thanked Ms. Mohammed for her appreciation of Pakistan’s mediation efforts during the recent US–Iran crisis.
In his meeting with Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development, the Minister highlighted Pakistan’s economic stabilization, progress under the IMF programme and renewed access to international capital markets. He appreciated the Fund’s willingness to expand trade and project financing support. Discussions focused on financing for the M-6 motorway, including the approved first tranche and pending loan agreement, as well as subsequent tranches. ML-1 railway modernization and power transmission infrastructure were identified as priority areas. Both sides stressed timely approvals, stronger coordination and effective project delivery. The Minister also thanked Dr. Alkhalifa for the invitation to visit the Fund, with the possibility of signing the project agreement during the visit.
In a meeting with Engineer Adeeb Y. Al Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), the Finance Minister discussed financing cooperation, trade development and the alignment of borrowing costs with improved market conditions. Both sides agreed that their technical teams would explore adjustments to financing terms and volumes to reach a mutually acceptable solution. The Minister outlined Pakistan’s efforts to replace costly short-term borrowing with longer-maturity financing without increasing external debt. Discussions also covered digital product passports to support textile exports to the European Union and single-window connectivity to facilitate trade with ASEAN markets.
During his meeting with Alibaba International Digital Commerce (AIDC) leadership, Senator Aurangzeb reviewed cooperation to advance Pakistan’s digital economy, digital payments and the transition towards a cashless economy. He appreciated Alibaba’s support for small and medium-sized enterprises, local brands and exports through Daraz and Alibaba.com. The two sides discussed rationalizing e-commerce taxation, accelerating the Pakistan Single Window e-commerce platform and improving the tracking of cross-border payments and export proceeds. Cooperation in cloud infrastructure, artificial intelligence and tax administration was also reviewed, with emphasis on integrated data systems, cybersecurity and institutional capacity. They further explored modernizing Pakistan Post’s sorting systems and expanding agricultural exports to China through Alibaba’s retail network.
In a meeting with Ms. SungAh Lee, Deputy Director-General of the International Organization for Migration (IOM), the Minister discussed climate mobility, disaster preparedness, skills development and economic growth. Discussions focused on strengthening early warning systems and population-movement data, aligning skills training with international labour-market demand and expanding safe, regular migration pathways. The Minister highlighted the economic contribution of overseas Pakistanis, the importance of formal remittance channels and opportunities to channel remittances into productive investment. Both sides also explored climate financing and institutional capacity-building to develop bankable projects.
In a bilateral meeting with H.E. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance of Thailand, the Finance Minister discussed strengthening Pakistan–Thailand relations and expanding economic cooperation. Discussions focused on increasing bilateral trade, deepening cultural ties, promoting two-way tourism and resuming high-level exchanges, including at the Prime Minister level.
