Talking to the media in Washington, he admitted that the steps taken under the IMF program had played a vital role in building confidence and stabilising Pakistan’s economy.
But all these reforms, he said, are guided by Pakistan’s own priorities. The minister hoped that the next IMF tranche of $1.2 billion would reach Pakistan by December 31 after formal approval from the IMF Executive Board. Regarding a trade and tariff agreement with the US, he hoped that it would happen within the next two weeks.
Aurangzeb revealed that the government would soon decide on the privatisation of New York’s Roosevelt Hotel.
Meanwhile, he witnessed the signing of a swap agreement between the State Bank of Pakistan (SBP) and the International Finance Corporation (IFC).
The signing took place during his meeting with IFC Managing Director Makhtar Diop on the sidelines of the IMF–World Bank Annual Meetings.
IFC has designated Pakistan as a regional hub, a strong vote of confidence in Pakistan’s rising economic potential.
He also reaffirmed Pakistan’s commitment to strengthening its partnership with the IFC across key development and financial sectors.
He also appreciated IFC’s continued support for subnational finance and Digital Payment Rights (DPR) initiatives, as well as its advisory role in sectors such as pharmaceuticals, electric vehicles, and commodity exchanges.
He also called on the senior management of JP Morgan on the sidelines of the IMF–World Bank and briefed the team on Pakistan’s upcoming inaugural issuance of the Panda Bond in the Chinese market, noting that it would be launched as a green bond to support sustainable financing objectives.
He informed that several US companies had expressed interest in the Reko Diq project and that the government looked forward to the participation of EXIM Bank in the syndication process.
