Ministry of Finance, Government of Pakistan

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, today addressed the inaugural Panda Bond Issuance Ceremony held at the Embassy of Pakistan in Beijing, describing the successful debut issuance of Pakistan’s first-ever Panda Bond as a historic milestone in the country’s economic and financial engagement with China and the international capital markets.

Addressing representatives of the Government of China, multilateral development banks, rating agencies, financial institutions, investors, and distinguished guests, the Finance Minister said the successful issuance reflected trust, partnership, innovation, financial collaboration, and a shared commitment to sustainable development and regional connectivity.

The Finance Minister stated that the occasion carried special significance as Pakistan and China celebrate 75 years of diplomatic relations founded on mutual respect, strategic trust, and unwavering support for each other’s progress. He noted that the Panda Bond issuance demonstrated the growing maturity of bilateral economic cooperation and the confidence of Chinese institutions and investors in Pakistan’s economic direction. Pakistan, he added, is proud to become the first Panda Bond issuer from South Asia.

Senator Muhammad Aurangzeb informed participants that Pakistan had successfully established a CNY 7.2 billion Panda Bond Programme after two years of extensive preparation and coordination with Chinese regulators, development partners, advisors, and market participants. He noted that the debut issuance of CNY 1.75 billion received an overwhelmingly positive response and was oversubscribed, reflecting strong investor confidence in Pakistan’s economic outlook and reform agenda.

The Finance Minister appreciated the leadership and support provided by China International Capital Corporation (CICC) as lead underwriter, alongside Bank of China, Standard Chartered Bank, and Hongta Securities as joint lead underwriters as well as HBL as financial advisor. He also expressed gratitude to the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) for their credit-enhancement guarantees, which helped facilitate Pakistan’s successful entry into the Chinese onshore bond market.

Highlighting the sustainable dimension of the issuance, the Finance Minister stated that this was Pakistan’s first Sustainable Panda Bond, with proceeds earmarked for projects in the water, energy, and health sector underscoring the Government’s commitment to inclusive and sustainable growth.

Speaking on Pakistan’s economic progress, Senator Muhammad Aurangzeb said that the country’s economy was experiencing renewed stability, disciplined reforms, and forward-looking transformation. He highlighted improvements in macroeconomic indicators, including stronger GDP growth, sharply reduced inflation, improved foreign exchange reserves, fiscal consolidation, and a stabilised external sector supported by resilient exports and robust remittance inflows.

The Finance Minister further noted that the Government was advancing tax reforms through digitalisation and expansion of the tax base, implementing energy sector reforms to address circular debt and improve efficiency, and pursuing state-owned enterprise reforms through restructuring and privatisation initiatives. He added that Pakistan’s investment climate was improving through regulatory simplification, digital governance, and targeted sectoral reforms.

He reaffirmed Pakistan’s strong commitment to the IMF programme, stating that adherence to the reform agenda had strengthened macroeconomic foundations and reinforced market confidence in the country’s economy.

The Finance Minister expressed sincere appreciation to the Government of the People’s Republic of China, particularly the Ministry of Finance of China, the People’s Bank of China, and NAFMII, for their invaluable support and facilitation throughout the process. He also acknowledged the contribution of CCXI, Fangda Partners, A&Q, the Ministry of Finance team, and the Embassy of Pakistan in Beijing.

Concluding his address, Senator Muhammad Aurangzeb stated that the successful issuance marked not the end, but the beginning of a long-term partnership between Pakistan and the Chinese capital market. He expressed confidence that the establishment of the CNY 7.2 billion programme would provide Pakistan with a strong platform for future issuances and further deepen financial connectivity and sustainable economic cooperation between Pakistan and China.

1 month ago | [YT] | 0

Ministry of Finance, Government of Pakistan

پانڈا بانڈ کا کامیاب اجرا تاریخی کامیابی ہے، وفاقی وزیر خزانہ سینیٹر محمد اورنگزیب

وفاقی وزیرِ خزانہ سینیٹر محمد اورنگزیب نے پاکستان کے پہلے پانڈا بانڈ کے کامیاب اجرا کو ملک کی اقتصادی و مالیاتی تاریخ کی ایک تاریخی کامیابی قرار دیا ہے۔ بیجنگ سے اپنے ایک بیان میں انہوں نے کہا کہ پانڈا بانڈ کے اجرا کو عالمی سرمایہ کاروں کی جانب سے غیرمعمولی پذیرائی حاصل ہوئی ہے، جو پاکستان کی معاشی تبدیلی، اصلاحاتی عمل اور خودمختار مالی ساکھ پر بڑھتے ہوئے عالمی اعتماد کا مظہر ہے۔

وزیر خزانہ نے کہا کہ پانڈا بانڈ کا کامیاب اجرا پاکستان کی عالمی مالیاتی منڈیوں میں مضبوط واپسی کا واضح اشارہ ہے اور یہ کامیابی عالمی اقتصادی و مالیاتی روابط کے ایک نئے باب کا آغاز ثابت ہوگی۔ انہوں نے کہا کہ پاکستان کی اقتصادی اصلاحات اور پالیسی اقدامات نے بین الاقوامی سرمایہ کاروں کا اعتماد بحال کیا ہے، جبکہ عالمی سرمایہ کاروں کا مثبت ردعمل پاکستان کی معاشی تبدیلی کے اعتراف کے مترادف ہے۔

سینیٹر محمد اورنگزیب نے مزید کہا کہ پانڈا بانڈ اجرا پاکستان کے اقتصادی سفر میں ایک اہم سنگِ میل کی حیثیت رکھتا ہے، جس سے نہ صرف عالمی مالیاتی منڈیوں میں پاکستان کی پوزیشن مستحکم ہوئی ہے بلکہ مستقبل میں بین الاقوامی سرمایہ کاری اور مالی تعاون کے نئے مواقع بھی پیدا ہوں گے۔ انہوں نے کہا کہ پاکستان کی اصلاحاتی رفتار نے عالمی سرمایہ کاروں کو متوجہ کیا ہے اور یہ کامیابی حکومت کی معاشی پالیسیوں پر عالمی اعتماد کا واضح ثبوت ہے۔

1 month ago | [YT] | 1

Ministry of Finance, Government of Pakistan

وفاقی وزیر خزانہ سینیٹر محمد اورنگزیب پاکستان کے پہلے پانڈا بانڈا کے اجرا کی تقریب میں شرکت کے لیے چین روانہ


وفاقی وزیرِ خزانہ سینیٹر محمد اورنگزیب، پاکستان کے پہلے پانڈا بانڈ کے اجرا کے سلسلے میں چین روانہ ہوگئے

وزیر خزانہ بیجنگ میں پاکستان کے پہلے پانڈا بانڈ کے اجراء کی تقریب میں شرکت کریں گے

پاکستان پہلی مرتبہ پانڈا بانڈ کے ذریعے چین کی مقامی سرمایہ مارکیٹ تک رسائی حاصل کر رہا ہے، جو دنیا کی سب سے بڑی اور گہری کیپیٹل مارکیٹس میں شمار ہوتی ہے

پانڈا بانڈ کا یہ اجرا پاکستان کی مالیاتی حکمتِ عملی میں ایک اہم پیش رفت ہے، جس کے ذریعے ملک اپنی فنانسنگ کے ذرائع کو متنوع بنانے، سرمایہ کاروں کے اعتماد کو مزید مضبوط کرنے اور عالمی مالیاتی منڈیوں میں اپنی موجودگی کو وسعت دینے کی جانب پیش قدمی کر رہا ہے۔

پاکستان اب روایتی مالیاتی ذرائع کے ساتھ ساتھ مارکیٹ بیسڈ فنانسنگ کی جانب بڑھ رہا ہے۔ پانڈا بانڈ کے ذریعے پاکستان پہلی بار چینی سرمایہ مارکیٹ تک رسائی حاصل کرے گا، جو پاکستان کی معاشی بحالی اور عالمی سرمایہ کاروں کے بڑھتے ہوئے اعتماد کا مظہر ہے

پانڈا بانڈ پروگرام کا مجموعی حجم ایک ارب امریکی ڈالر رکھا گیا ہے، جبکہ ابتدائی اجراء 250 ملین امریکی ڈالر کے مساوی ہوگا۔ اس اجرا کو ایشیائی ترقیاتی بینک (ADB) اور ایشین انفراسٹرکچر انویسٹمنٹ بینک (AIIB) کی معاونت حاصل ہے، جس سے عالمی سرمایہ کاروں کے اعتماد میں مزید اضافہ متوقع ہے۔

یہ تاریخی پیش رفت نہ صرف پاکستان کی معاشی ساکھ میں بہتری کی عکاس ہے بلکہ اس بات کا بھی ثبوت ہے کہ عالمی مالیاتی ادارے اور سرمایہ کار پاکستان کی میکرو اکنامک استحکام، اصلاحاتی ایجنڈے اور معاشی سمت پر اعتماد کا اظہار کر رہے ہیں۔ حالیہ مہینوں میں برآمدات، ترسیلاتِ زر اور معاشی اشاریوں میں مثبت بہتری نے پاکستان کی معیشت کو ایک مستحکم بنیاد فراہم کی ہے۔

چین اور پاکستان کی دوستی ہمیشہ باہمی اعتماد، اسٹریٹجک تعاون اور عوامی روابط کی مضبوط بنیادوں پر قائم رہی ہے۔ چین نے ہر مشکل وقت میں پاکستان کا ساتھ دیا ہے، جبکہ سی پیک سمیت مختلف منصوبوں نے دونوں ممالک کے اقتصادی تعلقات کو نئی جہت دی ہے۔ پانڈا بانڈ کا اجرا اس دیرینہ دوستی کو مالیاتی اور سرمایہ کاری کے شعبے میں مزید مستحکم کرنے کی جانب ایک اہم قدم ہے۔

بیجنگ میں منعقد ہونے والی تقریب میں چین کے اعلیٰ حکومتی و مالیاتی اداروں، بین الاقوامی مالیاتی تنظیموں، سرمایہ کاروں اور بینکنگ شعبے کے نمائندگان شرکت کریں گے۔ تقریب میں چین کی وزارتِ خزانہ، پیپلز بینک آف چائنا، ایشیائی ترقیاتی بینک، ایشین انفراسٹرکچر انویسٹمنٹ بینک، چائنا انٹرنیشنل کیپیٹل کارپوریشن (CICC)، بینک آف چائنا، اسٹینڈرڈ چارٹرڈ بینک، ہونگٹا سیکیورٹیز اور دیگر نمایاں ادارے شریک ہوں گے۔

تقریب کے دوران پاکستان کی معیشت اور سرمایہ کاری کے مواقع پر خصوصی پریزنٹیشن بھی دی جائے گی، جبکہ وفاقی وزیرِ خزانہ تقریب سے خطاب میں پاکستان کی معاشی بحالی، اصلاحاتی اقدامات، سرمایہ کاری دوست پالیسیوں اور مستقبل کے اقتصادی وژن پر روشنی ڈالیں گے۔ تقریب میں چین اور پاکستان کے درمیان اقتصادی تعاون کے نئے امکانات کا بھی جائزہ لیا جائے گا۔

وزیرِ خزانہ کے دورۂ چین کے دوران مختلف سرمایہ کاروں، مالیاتی اداروں اور چینی حکام سے ملاقاتیں بھی متوقع ہیں، جن میں دوطرفہ اقتصادی تعاون، سرمایہ کاری کے فروغ اور مستقبل کے مالیاتی اشتراک پر تبادلۂ خیال کیا جائے گا۔ وزیرِ خزانہ چینی میڈیا سے بھی گفتگو کریں گے تاکہ پاکستان کی معاشی پیش رفت اور سرمایہ کاری کے مواقع کو عالمی سطح پر اجاگر کیا جا سکے۔

حکومتِ پاکستان اس تاریخی پیش رفت کو ملک کی معاشی سفارت کاری، عالمی مالیاتی منڈیوں میں رسائی اور پائیدار اقتصادی استحکام کی جانب ایک اہم سنگِ میل قرار دیتی ہے۔ پانڈا بانڈ کا اجرا نہ صرف پاکستان اور چین کے درمیان اقتصادی تعاون کو مزید فروغ دے گا بلکہ عالمی سرمایہ کار برادری کے سامنے پاکستان کی ابھرتی ہوئی معاشی صلاحیت کو بھی اجاگر کرے گا۔

1 month ago (edited) | [YT] | 0

Ministry of Finance, Government of Pakistan

Finance Minister Chairs Virtual Meeting on Strengthening Cybersecurity Preparedness in the Financial Sector

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a virtual meeting with Presidents and Chief Executive Officers of commercial banks, along with their Chief Information Security Officers (CISOs). The meeting focused on enhancing cybersecurity preparedness across Pakistan’s financial sector in light of emerging technological risks and evolving threat dynamics.

Welcoming the participants, the Finance Minister appreciated the active engagement of financial institutions, regulators, and technical experts, and underscored the importance of coordinated efforts to safeguard critical financial infrastructure. He emphasized that as Pakistan’s financial ecosystem continues to digitize, strengthening cyber resilience must remain a central policy priority.

A detailed presentation was delivered outlining the evolving cyber threat landscape, including the growing sophistication of AI-enabled cyber tools capable of identifying vulnerabilities, developing exploits, and executing multi-stage attacks at unprecedented speed. The presentation highlighted potential exposure across digital banking channels, payment systems, and core financial infrastructure, while emphasizing the need for enhanced vigilance and preparedness.

The discussion also drew on international experiences, noting recent cyber risk trends in countries such as Japan and India, where financial ecosystems have faced increasing exposure to attacks targeting digital payment platforms and interconnected systems. Participants observed that these developments offer valuable lessons for strengthening Pakistan’s defensive capabilities and institutional readiness.

Participants were also apprised of evolving international policy responses to emerging AI-driven cyber risks. It was noted that finance ministries and central banks globally are increasingly treating such developments as high-priority systemic concerns, engaging through coordinated high-level platforms, including the IMF–World Bank Spring Meetings and bilateral consultations with major financial institutions.

The discussion highlighted that Pakistan’s ongoing engagement on these issues is aligned with global efforts to strengthen next-generation financial infrastructure, enhance cyber resilience, and promote responsible innovation in the financial sector.

Participants deliberated on enhancing coordination between regulators, financial institutions, and other stakeholders, while strengthening governance frameworks and aligning cybersecurity policies with evolving global standards. Emphasis was placed on improving threat intelligence sharing, addressing legacy system vulnerabilities, and leveraging emerging technologies to strengthen detection and response mechanisms.

The Finance Minister underscored the importance of adopting a structured and phased approach, focusing on immediate risk mitigation, medium-term capacity building, and long-term resilience. He noted that strengthening cybersecurity is integral not only to protecting financial infrastructure but also to supporting Pakistan’s broader digital transformation and economic development objectives.

The Finance Minister urged the State Bank of Pakistan and the Pakistan Banks' Association to undertake a comprehensive review of existing frameworks, identify key gaps, and assess all relevant aspects of cyber risk management and institutional preparedness. He further emphasized the need for close coordination among regulatory authorities, financial institutions, and technical teams to develop well-considered, actionable recommendations to strengthen the cybersecurity posture of the banking sector.

The meeting emphasized the importance of translating policy intent into effective implementation through enhanced coordination and clearly defined institutional responsibilities. Participants agreed on the need to develop actionable measures and ensure their timely execution to safeguard Pakistan’s financial ecosystem against evolving cyber threats.

The meeting also reflected Pakistan’s active engagement in the evolving global discourse on cybersecurity, financial stability, and the responsible adoption of emerging technologies in the financial sector. The meeting was attended by the Governor, State Bank of Pakistan; the Chairman, Pakistan Virtual Asset Regulatory Authority; the Chairman, Pakistan Banks' Association; senior officials from the Ministry of Finance; and representatives of commercial banks.

1 month ago | [YT] | 0

Ministry of Finance, Government of Pakistan

Finance Minister Chairs Virtual Meeting on Facilitating Growth of REITs and Strengthening Capital Market Development

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a virtual meeting of the Focus Group on Incentivizing and Facilitating the Growth of Real Estate Investment Trusts (REITs). The meeting brought together key stakeholders from the public and private sectors to deliberate on measures aimed at strengthening the REIT framework and enhancing its contribution to economic activity and capital market development.

Welcoming the participants, the Finance Minister appreciated the active engagement of stakeholders and acknowledged the constructive role of the business community, financial institutions, and market participants in contributing to policy dialogue. He underscored the importance of continued and structured consultation to ensure that reform efforts remain responsive to market needs, grounded in practical considerations, and aligned with broader economic objectives.

The discussion covered key areas central to the growth and scalability of the REIT sector. Participants deliberated on refining the taxation framework, streamlining processes to facilitate REIT issuers, and strengthening the overall market ecosystem to enhance investor participation, particularly from retail segments. Emphasis was placed on maintaining a balanced, predictable, and investment-friendly enabling environment.

Participants noted that while the REIT market in Pakistan has made initial progress, significant potential remains to deepen its reach through targeted policy measures and improved coordination. Addressing procedural inefficiencies, ensuring clarity in regulatory requirements, and fostering alignment among stakeholders were identified as critical to unlocking this potential.

The Finance Minister observed that REITs provide a structured and transparent mechanism for channelizing real estate investments into productive sectors of the economy. He highlighted their role in promoting documentation and supporting the formalization of the real estate, construction, and development sectors, alongside improving capital allocation and economic activity.

Discussions also focused on broadening investor participation and improving market depth. Enhancing investor awareness, strengthening confidence in REIT instruments, and ensuring efficient secondary market functioning were highlighted as key to facilitating investor entry and exit and sustaining market growth.

The meeting further emphasized aligning Pakistan’s REIT framework with evolving international practices while maintaining simplicity, clarity, and ease of implementation. Participants stressed the importance of adopting pragmatic and well-calibrated measures that effectively support market development without adding unnecessary complexity.

The Finance Minister underscored the need for a coordinated and outcome-oriented reform approach focused on actionable steps within existing institutional frameworks. In this regard, relevant stakeholders, including the Securities and Exchange Commission of Pakistan (SECP), REIT issuers, market participants, and the Tax Policy Office, were assigned specific workstreams to undertake detailed reviews within their respective domains, particularly in taxation, regulatory processes, and market development.

The meeting concluded with a shared understanding on the way forward, including continued engagement among stakeholders and timely follow-up on identified areas. The Finance Minister reaffirmed the Government’s commitment to fostering a facilitative, transparent, and predictable policy environment that encourages investment, supports innovation, and strengthens Pakistan’s capital markets, while contributing to sustainable and inclusive economic development.

The meeting was attended by Mr. Arif Habib, Chief Executive, Arif Habib Corporation Limited; Mr. Nadeem Riaz, Chief Executive, Dolmen Group, Mr. Ali Jameel, Chief Executive, TPL Corp Limited; among other private sector participatns, along with the Commissioner, Securities and Exchange Commission of Pakistan (SECP), the Secretary, Housing and Works Division, Director General, Tax Policy Office, alongside other officials from the Ministry of Finance.

1 month ago | [YT] | 0

Ministry of Finance, Government of Pakistan

Finance Minister Meets Francis Brooke, U.S. Department of the Treasury, on Economic Cooperation

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with Mr. Francis Brooke, Deputy Secretary at the United States Department of the Treasury, on the sidelines of the World Bank–IMF Spring Meetings in Washington, D.C.

The Finance Minister shared an overview of Pakistan’s macroeconomic stabilization, its planned re-entry into international capital markets, and its external debt management strategy.

He highlighted key investment opportunities in Pakistan’s minerals and energy sectors, and briefed the Treasury leadership on progress and prospects in digital and virtual asset regulation.

Both sides discussed avenues for cooperation and collaboration in energy, mineral development, and strengthening the anti-money laundering and countering the financing of terrorism (AML/CFT) framework.

The Finance Minister reaffirmed the depth and strength of bilateral economic engagement and underscored the importance of continued United States support for Pakistan’s programme with the International Monetary Fund (IMF).

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2 months ago | [YT] | 1

Ministry of Finance, Government of Pakistan

Finance Minister Aurangzeb Highlights Pakistan’s Reform Momentum and Global Engagement at IMF–World Bank Spring Meetings

On the third day of the IMF–World Bank Spring Meetings in Washington, D.C., Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in a series of high-level meetings and multilateral discussions, underscoring Pakistan’s continued economic stabilization, reform trajectory, and proactive role in global economic and climate discourse.

On the sidelines of the launch of the Borrowers’ Platform, the Finance Minister met H.E. António Guterres, Secretary-General of the United Nations. The Minister appreciated his participation in the launch and acknowledged his support for the creation of the platform. The two leaders exchanged views on the global economic implications of the evolving situation in the Middle East, particularly its impact on food and energy security in developing countries. The Secretary-General commended Pakistan’s constructive role in promoting peace and stability in the region and beyond.

The Finance Minister participated in the 15th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action (CFMCA), held under the theme “Climate Action as an Engine of Growth, Jobs and Competitiveness.” In his intervention, he highlighted Pakistan’s enhanced fiscal resilience, noting that while the country required international assistance during the devastating floods of 2022, it was able to mobilize domestic resources to respond to a similar climate shock in 2025—reflecting strengthened fiscal buffers. He outlined key initiatives to green Pakistan’s financial architecture, including the State Bank’s Green Taxonomy Guidelines, and emphasized Pakistan’s growing renewable energy capacity, with 8,000 MW of installed solar power and a target to achieve 90% renewable energy generation within the next decade. He also expressed appreciation for international partners, particularly the IMF’s Resilience and Sustainability Facility (RSF) and the World Bank’s Country Partnership Framework.

Addressing a policy forum at the Atlantic Council, the Finance Minister spoke on “Pakistan’s Path to Reform and Resilience.” He underscored Pakistan’s emergence as a responsible and constructive global actor, including its role in facilitating a ceasefire between the United States and Iran. On the economic front, he highlighted significant macroeconomic stabilization achieved through disciplined fiscal management and the ongoing IMF-supported reform programme. He reaffirmed Pakistan’s commitment to meeting its sovereign obligations and outlined progress on structural reforms, including privatization, rightsizing of federal ministries, and strengthening public financial management. The Minister also emphasized Pakistan’s digital transformation agenda aimed at improving governance, reducing leakages, and enhancing service delivery. He noted a strategic shift in Pakistan–U.S. relations from an aid-based to a trade-based partnership, with growing engagement in critical minerals and infrastructure.

In meetings with global financial institutions, the Finance Minister held constructive discussions with Fitch Ratings, thanking them for reaffirming Pakistan’s B- credit rating and acknowledging their continued engagement. He highlighted the Staff-Level Agreement reached with the IMF for the third review under the Extended Fund Facility (EFF) and the second review under the RSF, while noting that Pakistan has secured sufficient external financing to meet its FY2026 obligations. He also outlined the Government’s strategy to diversify its presence in international capital markets through instruments including Panda Bonds, Eurobonds, International Sukuk, and ESG bonds.

The Finance Minister also participated in a high-level session convened by the IMF Managing Director with Finance Ministers and Central Bank Governors from the MENAP region. He characterized the ongoing Middle East crisis as a major global supply shock and detailed Pakistan’s policy response, including adjustments in procurement, pricing, and logistics, alongside a transition toward targeted subsidies to protect vulnerable populations. He emphasized the Government’s continued coordination with the State Bank of Pakistan to assess second- and third-order macroeconomic impacts while reaffirming commitment to sustained reforms and macroeconomic stability.

At the launch of the Borrowers’ Platform, the Finance Minister underscored the urgent challenges faced by developing economies amid rising borrowing costs and constrained fiscal space. He emphasized that the platform fills a critical gap by providing a voluntary, member-driven forum for experience-sharing and amplifying the collective voice of borrowing nations in global financial governance. He acknowledged the leadership of Egypt and the advocacy of the UN Secretary-General for reforming the global financial architecture.

The Finance Minister held a bilateral meeting with Mr. Masato Kanda, President of the Asian Development Bank (ADB), where he highlighted the recently signed Country Partnership Strategy as a milestone in bilateral cooperation. He appreciated ADB’s support, including credit enhancement for Pakistan’s inaugural Panda Bond, and discussed coordinated responses to ongoing global supply shocks. The Minister also extended an invitation to the ADB President to visit Pakistan.

In engagements with global investors, the Finance Minister met senior leadership of Franklin Templeton and JPMorgan Chase. He provided an update on Pakistan’s privatization programme, noting that nearly 30 state-owned enterprises have been transferred to the Privatization Commission, and outlined opportunities in infrastructure, aviation, and energy sectors. He highlighted Pakistan’s planned return to international capital markets through the Global Medium-Term Note (GMTN) programme and emphasized reforms in the financial sector, including the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA).

Addressing institutional investors at the Citi Macro Forum, the Finance Minister reaffirmed that Pakistan has reached a Staff-Level Agreement with the IMF, with Executive Board approval expected shortly. He outlined the Government’s comprehensive response to global supply shocks and highlighted emerging economic opportunities, including increased transit volumes at Karachi Port and the potential of Gwadar as a strategic trade corridor. He also emphasized the importance of building strategic reserves and accelerating the transition toward renewable energy.

Throughout the day’s engagements, the Finance Minister reiterated Pakistan’s commitment to sustaining macroeconomic stability, advancing structural reforms, and strengthening partnerships with international financial institutions and global investors.

2 months ago | [YT] | 1

Ministry of Finance, Government of Pakistan

Finance Minister Highlights Policy Response to Global Shocks at IMF MENAP Meeting

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.

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Ministry of Finance, Government of Pakistan

Finance Minister Addresses Atlantic Council on Pakistan’s Reform and Resilience Agenda

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, spoke at the Atlantic Council on the topic “Pakistan's Path to Reform and Resilience.”

During his remarks, the Finance Minister underscored Pakistan’s emergence as a constructive force in global affairs, including its role in brokering a ceasefire between the United States and Iran.

On the economic front, he affirmed that Pakistan had achieved meaningful macroeconomic stabilization, underpinned by the ongoing programme with the International Monetary Fund (IMF), and supported by strong performance across both fiscal and external accounts. He reiterated Pakistan’s commitment to honouring its obligations as a responsible sovereign borrower.

The Finance Minister further noted that his recent engagement with the Saudi Finance Minister had yielded positive outcomes, including agreement on extended maturities and additional financial support to help offset repayment pressures.

Highlighting the Government’s structural reform agenda, he outlined key initiatives including the privatization of state-owned enterprises, rightsizing of federal ministries, and strengthening of public finance management systems.

He also elaborated on Pakistan’s ongoing digital transformation, aimed at reducing leakages, improving service delivery, and enabling better-targeted subsidy programmes through digital public infrastructure.

The Finance Minister signalled a shift in Pakistan–United States economic relations from an aid-based to a trade-based partnership, and noted substantive engagement with the U.S. administration on critical minerals and infrastructure development.

In his concluding remarks, he highlighted Pakistan’s energy transition agenda, noting that the country currently has approximately 8,000 MW of installed solar capacity and is pursuing an ambitious plan to scale up renewable energy.

The session concluded with an interactive question and answer session.

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Ministry of Finance, Government of Pakistan

Federal Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb speaking LIVE at the Atlantic Council

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