Aurangzeb meets AIIB President & IFC Managing Director in Washington DC

Government of PakistanAurangzeb meets AIIB President & IFC Managing Director in Washington DC

WASHINGTON DC: The Finance Minister Muhammad Aurangzeb met with the Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on the sidelines of the World Bank Group-IMF Spring Meetings in Washington DC, discussing Pakistan’s positive economic indicators post International Monetary Fund’s (IMF) Stand-by Arrangement (SBA).

During the meeting, the finance minister emphasized broad tax reforms, energy sector fixes, and SOE reforms as key priorities.Aurangzeb meets AIIB President & IFC Managing Director in Washington DC

   

Muhammad Aurangzeb expressed gratitude for AIIB’s support including co-financing with World Bank’s RISE-II program after devastating floods. Reaffirmed commitment to AIIB collaboration on Pakistan’s infrastructure development.

The minister appreciated AIIB’s additional US$ 500 million project assistance and progress on project implementation.

The collaboration aims to foster sustainable development and economic growth in Pakistan.

Earlier, the Finance Minister Muhammad Aurangzeb also met with the International Finance Corporation (IFC) Managing Director Makhtar Diop, highlighting positive economic indicators in Pakistan: improving reserves, stable currency, declining inflation, surging stock market, and institutional/foreign inflows.

The finance minister informed of Pakistan’s aim for a larger and extended IMF programme. He identified key priorities: broadening tax reforms, fixing energy sector, and undertaking state-owned enterprise (SOE) reforms. He also thanked the IFC for support in outsourcing Islamabad airport.

Aurangzeb expressed satisfaction with IFC’s increased activities in Pakistan. Requested IFC’s assistance in shifting Public Sector Development Program (PSDP) to PPP mode.

Separately, Aurangzeb also met with the Deputy Under Secretary for International Finance at the US Department of Treasury Brent Neiman, and shared positive economic indicators post IMF’s SBA and prioritized reforms in taxation, energy, and SOEs.

The finance minister highlighted the United States as Pakistan’s largest trading partner and significant source of remittances/FDI.

The minister briefed on Special Investment Facilitation Council’s (SIFC) role in facilitating foreign investment.

In addition, he expressed gratitude for Brent Neiman’s visit to Pakistan and assured full support.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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