Federal Finance Minister Muhammad Aurangzeb said that the International Monetary Fund (IMF) cannot impose any condition on Pakistan against national interest, reported 24NewsHD TV channel on Sunday.
Addressing a press conference in Washington, the Finance Minister said reforms made under the IMF program have stabilised the economy. Muhammad Aurangzeb said the IMF and World Bank talks were positive.
He said Pakistan expects to receive $1.2 billion instalment from the IMF by December 31. The Finance Minister said many American companies are keen to invest in Pakistan.
Muhammad Aurangzeb said Chinese investment will create more opportunities for development in the coming days.
Earlier, addressing the 15th V20 Ministerial Dialogue on “Cost of Capital, Debt & Growth Pathways” held on the sidelines of the IMF–World Bank Annual Meetings in Washington, the Minister said Pakistan continues to bear the cost of devastating floods through its own resources while supporting rescue and relief efforts.
Minister for Finance and Revenue Muhammad Aurangzeb has reaffirmed Pakistan’s commitment to strengthening climate resilience and sustainable growth.
He appreciated the assistance of the CVF–V20 Secretariat in preparing Pakistan’s Climate Prosperity Plan, and informed that financing under the Country Partnership Framework is helping to operationalise the plan.
Muhammad Aurangzeb also called for the early operationalisation of the Loss and Damage Fund and urged fast-tracking decision-making at the Green Climate Fund to ensure timely climate action for vulnerable nations.
Earlier, Finance Minister Senator Muhammad Aurangzeb met with Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, in Washington, DC In their meeting, both sides acknowledged the consistent and ongoing high-level engagements between the leadership of Pakistan and Turkey.
During his ongoing visit to the United States, they also reaffirmed their shared commitment to further strengthening the deep-rooted brotherly relations between the two countries.
Finance Minister Aurangzeb briefed his Turkish counterpart on the ongoing economic reforms underway in Pakistan, highlighting measures being undertaken in areas such as tax policy, energy, state-owned enterprises, privatisation, and public finance.
He informed him about the reform journey of the Federal Board of Revenue (FBR), which was recently presented at a World Bank event, and Pakistan’s efforts to enhance its tax-to-GDP ratio.
He also discussed Pakistan’s progress on integrating data across various government departments to improve financial management and increase transparency.
Separately, Finance Minister Aurangzeb held a meeting with International Finance Corporation (IFC) Managing Director Makhtar Diop.
He thanked the International Finance Corporation for designating Pakistan as a regional hub under its recent organisational restructuring.
The minister described this recognition as a reflection of growing confidence in Pakistan’s economy.
Aurangzeb also briefed Makhtar Diop on developments in the Reko Diq mining project and expressed hope that the EXIM Bank would soon join the venture.
He appreciated IFC’s support in financial inclusion and digital payment rights projects at the grassroots level. Furthermore, he acknowledged IFC’s advisory contributions in the sectors of pharmaceuticals, electric vehicles, and commodity exchanges.
The minister welcomed the IFC Managing Director’s plan to visit Pakistan during the upcoming Spring Meetings. On this occasion, both Aurangzeb and Makhtar Diop also participated in a signing ceremony for a swap agreement between the State Bank of Pakistan and the IFC.
Reporter: Waqas Azim