Acumen Discusses $90 Million Climate Investment with Finance Minister Aurangzeb

A high-level delegation from Acumen met Finance Minister Muhammad Aurangzeb to discuss a $90 million Agriculture Resilience Fund for Pakistan, along with broader cooperation in investment, climate resilience, and economic reforms. The delegation, led by Acumen Founder and CEO Jacqueline Novogratz, included President Poul Carsten Stendevad, Acumen Pakistan CEO Dr. Ayesha Khan, and members of the organization’s global board and international investors. Welcoming the delegation, the Finance Minister appreciated Acumen’s continued focus on agriculture and climate resilience, noting its long-standing engagement in Pakistan. He briefed the visitors on the country’s macroeconomic stability and ongoing structural reforms in the taxation and energy sectors. Aurangzeb said Pakistan’s tax-to-GDP ratio is targeted to reach 11 percent by the end of the current fiscal year through AI-led analytics and digital integration. He also outlined reforms aimed at reducing energy and financing costs, strengthening public–private partnerships, and improving the investment climate. The Finance Minister briefed Acumen on Prime Minister Shehbaz Sharif’s recent visits to Beijing, Riyadh, and Washington D.C., where strategic partners expressed strong support for investment and trade. He said 24 new joint ventures were signed during the China visit, reflecting real progress on the investment front. The minister also discussed State-Owned Enterprise reforms, including the privatization of PIA, the outsourcing of Islamabad International Airport, and plans to privatize power distribution companies in the first phase. Aurangzeb reaffirmed that Pakistan’s private sector must lead economic growth, while the government’s role is to enable and support. He said the government is moving toward an export-led growth model backed by tariff reforms and responsible fiscal management. The minister also shared plans to issue Pakistan’s first Panda Bond before the year’s end and access the USD, Euro, and Islamic Sukuk markets later. He added that all government payments will be digitized by the close of this fiscal year. He highlighted Pakistan’s twin challenges of climate change and population growth, stressing the importance of decarbonization, child nutrition, girls’ education, and learning poverty reduction. Aurangzeb said the World Bank’s Country Partnership Framework provides a structured approach to tackling these priorities. He also mentioned that Pakistan has cleared backlogs in foreign profit repatriation, and recent transactions — including the $500 million Eurobond repayment — were completed smoothly, reflecting macroeconomic stability. Ms. Jacqueline Novogratz said Acumen’s engagement in Pakistan dates back to 2002 and described her experience as “truly extraordinary.” She reaffirmed Acumen’s long-term commitment to Pakistan, particularly in agriculture, energy, and climate resilience. She highlighted Pakistan’s dynamic young talent and entrepreneurial potential, emphasizing that better access to finance can help innovators turn ideas into scalable businesses. The visit follows Acumen Pakistan’s earlier meeting with the finance minister in September 2025 and is part of a broader engagement in Islamabad, Lahore, and Karachi to explore investment opportunities in light of Pakistan’s improving economic outlook. Thanking Acumen for its continued confidence, Aurangzeb praised its work in climate-smart agriculture, food system resilience, and poverty alleviation. This marks the second such meeting in two months between Acumen and Finance Minister Aurangzeb, following a similar meeting in September 2025, involving Dr. Ayesha Khan (CEO & Country Head, Acumen Pakistan) and her team.