Finance Minister Discusses Positive Economic Indicators with S and P Global and Fitch Ratings Representatives

Washington DC, Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, met with representatives of S and P Global and Fitch Ratings to discuss the positive economic indicators resulting from the Standby Arrangement (SBA) signed with the International Monetary Fund (IMF). He highlighted ongoing reforms in key areas such as taxation, energy, and privatization over the short, medium, and long-term horizon.

According to Press Information Department, during the meeting, Minister Aurangzeb shared updates on Pakistan’s progress and outlined the country’s economic strategies. He referenced his discussions with the Managing Director of the IMF, the President of the World Bank, and representatives from other multilateral institutions, including the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB). The Finance Minister emphasized that the World Bank’s focus on climate change, digitalization, and human development aligns with the government’s priorities.

Minister Aurangzeb also mentioned the potential for Saudi investments, indicating that they are in the pipeline. Additionally, he addressed the concerns of the rating agencies regarding external factors, inflation, the primary balance, and the interest rate regime, providing assurances about the government’s commitment to stability and reform.

The meeting aimed to enhance the understanding of Pakistan’s economic outlook among key rating agencies and to demonstrate the government’s proactive approach to achieving sustainable growth.