Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of high-level meetings in Washington aimed at strengthening Pakistan’s economy, expanding global partnerships, and accelerating the country’s digital transformation.
During his meeting with World Bank President Ajay Banga on the sidelines of the IMF–World Bank Annual Meetings, Aurangzeb appreciated the Bank’s assistance in tariff policy formulation and post-flood recovery support. He also discussed energy sector reforms and sought additional funding under the International Development Association (IDA) to enhance long-term sustainability.
Aurangzeb also met Dubai Islamic Bank (DIB) CEO Dr Adnan Chilwan, acknowledging the bank’s role in arranging Pakistan’s sovereign Sukuk. He highlighted Pakistan’s IMF Staff-Level Agreement, improving credit ratings, and ongoing privatisation efforts, including that of the First Women Bank, as signs of a stabilising economy.
Meetings with Sharjah Islamic Bank and Ajman Bank focused on expanding collaboration, particularly in syndicated financing and Pakistan’s first Panda Bond issuance in the Chinese market.
In discussions with Dr Hajar El Haddaoui, Director General of the Digital Cooperation Organisation (DCO), Aurangzeb underscored Pakistan’s focus on digital governance, IT infrastructure, and payment digitisation. He invited DCO to play a stronger role in skills development and inclusive digital frameworks in Pakistan.
The finance minister also conferred with a Currency Exchange Fund (TCX) delegation, led by Othman Boukrami, on expanding local currency financing and accessing international capital markets through Panda Bonds, Eurobonds, and International Sukuk.
Aurangzeb further met officials from Fitch Ratings, thanking them for upgrading Pakistan’s rating to B- (Stable). He briefed the agency on Pakistan’s fiscal reforms, privatisation roadmap, and tariff negotiations with the U.S., reaffirming the government’s commitment to macroeconomic stability and reform continuity.
