Finance Minister Seeks Stronger Economic Partnerships with U.S, China, and Japan at IMF–World Bank Meetings

Finance Minister Senator Muhammad Aurangzeb expanded Pakistan’s international economic outreach on Thursday, holding key meetings with officials from the United States, China, and Japan in Washington D.C. to deepen investment, digital cooperation, and financial stability efforts. Aurangzeb met U.S. Congressman French Hill, chairman of the House Financial Services Committee, to discuss expanding Pakistan–U.S. cooperation in digital finance, IT, and mineral development. He highlighted Islamabad’s focus on digitization and private-sector-led growth to attract new investment. In a separate meeting with China’s Deputy Finance Minister Liao Min, Aurangzeb shared details of Pakistan’s recent Staff-Level Agreement with the IMF, calling it a clear sign of external confidence in the government’s reform program. He also briefed the Chinese side on progress toward issuing Panda Bonds and requested China’s support for Pakistan’s membership in the New Development Bank. The minister invited further Chinese investment in ICT, agriculture, and mining, and extended a formal invitation for the deputy minister to visit Pakistan. Aurangzeb also met JBIC Governor Nobumitsu Hayashi, who confirmed Japan’s participation in the Reko Diq lender group — a development the minister said would “strengthen investor confidence and encourage greater Japanese investment in Pakistan.” At the Atlantic Council, Aurangzeb delivered a keynote address outlining Pakistan’s reform roadmap, including tax reforms at the Federal Board of Revenue, restructuring of the National Finance Commission, and a liberal tariff policy aimed at boosting exports and competitiveness. He also addressed a World Bank roundtable on digital tax transformation, revealing that tax collection has risen from 8.8% of GDP in 2024 to 10.24% in 2025 — driven by the FBR’s end-to-end digitization and use of AI-based monitoring tools. Later, at a JP Morgan Investment Seminar, the finance minister highlighted Pakistan’s improving macroeconomic indicators, including stabilized reserves, fiscal discipline, and credit rating upgrades by global agencies such as S&P Global. He described these developments as “external validations of Pakistan’s economic turnaround.” Aurangzeb also joined the World Economic Forum’s Future of Growth Initiative Dialogue, where he stressed that technology-led innovation must align with inclusion and climate resilience. In parallel, SBP Governor Jameel Ahmed met Moody’s officials, while Secretary EAD Muhammad Humair Karim held talks with the International Islamic Trade Finance Corporation, reinforcing Pakistan’s focus on sustainable financial partnerships.