Aurangzeb tells US officials Pakistan expediting privatisation process

US Deputy Assistant Secretary of State John Mark Pommersheim met Finance Minister Muhammad Aurangzeb on Wednesday to discuss economic reforms and investment opportunities between Pakistan and the United States. US Chargé d’Affaires Natalie Baker was also present at the meeting.

During the meeting, the finance minister briefed the US delegation about Pakistan’s economic stability and ongoing reform agenda. He reiterated the government’s commitment to transitioning towards sustainable and export-led economic growth.

According to the Ministry of Finance, both sides agreed to strengthen economic cooperation. The finance minister said the fiscal deficit is decreasing and the current account is improving, adding that key economic indicators have shown progress due to an increase in IT exports and remittances.

US officials appreciated Pakistan’s efforts towards financial reforms and economic stability. Deputy Assistant Secretary of State Pommersheim noted that American businesses are closely monitoring the reform progress in Pakistan.

The government also assured the US delegation of its commitment to promoting foreign investment and improving the overall business environment.

Aurangzeb said Pakistan is planning to re-enter the global financial markets and issue Panda Bonds. He added that the privatization process is being accelerated, particularly in the banking and electricity sectors, including distribution companies.

The finance minister informed the delegation that outsourcing of major airports is expected to begin with Islamabad Airport.