ISLAMABAD: A high-level delegation of foreign investors and professionals, primarily from the United States, met with Federal Minister for Finance Senator Muhammad Aurangzeb at the Finance Division. The delegation, organized by Ambassador Ali Jehangir Siddiqui of JS Bank, included prominent figures from sectors such as technology, academia, and finance.
Ambassador Siddiqui opened the discussion by introducing the delegation, outlining the purpose of their visit, and summarizing their engagements with local stakeholders.
The finance minister welcomed the group and provided an overview of Pakistan’s recent macroeconomic progress. He highlighted achievements such as overcoming fiscal and current account deficits, surpassing $12 billion in foreign exchange reserves, lowering inflation to single digits, and moving policy rates in a favorable direction.
Senator Aurangzeb detailed the government’s ongoing reforms, including privatization, state-owned enterprise restructuring, federal government rightsizing, and pension reforms. He also addressed critical challenges, such as rapid population growth and climate change. “A population growth rate above 2% has severe implications for food security, education, and health, while climate change exacerbates these vulnerabilities. Securing financial and technical assistance is essential to address these issues effectively,” he emphasized, referencing recent discussions with World Bank President Ajay Banga.
During a Q&A session, the minister discussed the implementation of IMF-mandated reforms, stressing the importance of commitment and momentum to achieve desired outcomes. He also underlined the private sector’s role in driving economic growth, stating, “While the government provides a stable policy framework, the private sector must take the lead in economic development.”
The delegation praised the government’s economic stabilization efforts and explored collaboration opportunities in innovation, investment, and financial inclusion. The meeting concluded with a mutual resolve to strengthen US-Pakistan ties and work together on shared economic goals and challenges.
