FinMin Aurangzeb advocates for investment, trade with US during DC visit
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Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb (centre) meets with the commercial team of Moody's during the IMF-World Bank Spring Meetings in Washington, DC, US. — PID/File
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According to a press release issued by the Finance Ministry on Wednesday, Federal Finance Minister Senator Senator Senator Mohammad Aurangzeb displayed Pakistan’s commitment to sustainable growth during a series of high -level meetings in Washington DC.
Addressing the annual spring meetings of the International Monetary Fund (IMF) and the World Bank, he highlighted important issues such as economic stability, necessary reforms and investment opportunities.
As the second deputy chair of G24 ministers and central bank’s Georners, Aurangzeb identified Pakistan’s macro -economic flexibility, causing strong banking system and geographical political dynamics, trade fragments, and protectionism, such as geographical political tensions.
In addition, it emphasized the importance of regional transit, trade relations, and cooperation in the South South to increase investment and trade flow.
Efforts to deepen the tax base
During a panel discussion hosted by the IMF titled “Revenue Mobilization in the Mid -term”, the Finance Minister outlined efforts to expand and deepen the tax base to ensure that agriculture, real estate, and retail sectors contribute to GDP.
The Finance Minister said, “These strategies include increasing key economic sectors, changing the Federal Board of Revenue (FBR) through technical promotion and improving the process, minimizing taxpayer collecting interfaces, strengthening implementation and compliance, and using AI.”
Aurangzeb also participated in the Fire Side Chat at the Geo Economics Center of the Atlantic Council, addressing “2025 and beyond the Challenge’s Challenges and opportunities for the Pakistani economy”.
He presented the government’s reform agenda, which includes the FBR’s digitalization, the increase in provincial involvement in tax collection, and the legislation of the provinces on agriculture income tax.
The Minister added, “Under the National Financial Agreement, we are developing a sustainable economic foundation through ongoing efforts to rationalize federal spending and cooperate with the provinces.”
The Finance Minister also addressed the climate and population challenges, which highlighted the World Bank’s 10 -year -old country Partnership Framework (CPF) for Pakistan.
The Minister confirmed the government’s commitment to launch the Panda Bond and praised the efforts of multilateral institutions to ensure better harmony with danger analysis and diligence.
“We are finalizing the Green Technology Framework through the State Bank, and paving the way for modern equipment such as Green Bonds, Green Squakes, and the inauguration of the country’s opening panda bonds, whose income will be linked to SDG -related plans,”
Plans to improve trade relationships with us
Expressing a government’s desire to improve trade relations with the United States, Aurangzeb called for constructive engagement plans with the United States to overcome trade imbalances, with a high -level delegation expected to visit soon.
In a meeting with institutional investors, Minister Aurangzeb provided the latest information about Pakistan’s economic approach, financial and financial progress, and reform progress.
He highlighted the recent credit rating upgrade through the country’s economic stability and fitch, which has opened the way for the return of Pakistan’s financial markets through better confidence of investors.
The Finance Minister also met Martin Raiser, Vice President of the South Asia World Bank, where he expressed his gratitude for the approval of the 10 -year CPF.
He discussed the importance of rapid operationalization of CPF, the need to increase investment in the private sector, and the importance of dealing with the obstacles to the implementation of the project.
Interest in returning to financial markets
In addition, Minister Aurangzeb held a meeting with the Deutsche Bank team headed by Managing Director Mary Ozazani, Managing Director of the Mina region. He expressed Pakistan’s interest in returning to the financial markets, including the issuance of Panda and ESG bonds on the basis of better economic stability and credit rating of the country.
In addition, while discussing with Moody’s trade team, the Finance Minister apprised him about Pakistan’s financial and current account increase, inflation, stable exchange rate and foreign reserves. The debates also covered the Panda Bond’s move, the two sides agreed to find future cooperation.
In an important and fruitful meeting with Saudi Fund for Development (SFD) CEO Sultan Bin Abdul Rahman al -Mursheed, Finance Minister Aurangzeb withdrew his visit to Saudi Arabia for the emerging markets and with the Saudi Finance Minister. He apprised Alwarid about the better economic indicators of Pakistan, including the recent credit rating upgrade through Moody.
Appreciating the G2G and B2B for interest in investment projects in Pakistan, Minister Aurangzeb requested the speeding of funds under Saudi oil facility, assuring the immediate submission of oil shipment documents.
The two sides reviewed the current portfolio, expressing satisfaction over the progress, with the Finance Minister seeking financial support from the SFD for the N -25 project.
