Finance Minister Muhammad Aurangzeb has made it clear that the International Monetary Fund (IMF) cannot impose any conditions that go against Pakistan’s national interest, asserting that the Pakistan IMF reform plan is fully aligned with the country’s own economic priorities.
Speaking at a press conference in Washington, Aurangzeb said the reforms under the IMF programme have been instrumental in stabilising the economy and restoring investor confidence. “The IMF cannot put any condition that goes against Pakistan’s national interest,” he stated confidently. “The steps we took under the IMF arrangement have strengthened the economy and built confidence.”
The finance minister revealed that Pakistan expects to receive the next IMF tranche of $1.2 billion by December 31, with the Fund’s Executive Board expected to approve the deal soon. “We anticipate the board’s approval shortly, which will pave the way for the disbursement,” he noted.
Aurangzeb also announced that a trade and tariff agreement with the United States is expected within the next two weeks, further enhancing economic cooperation between the two nations.
Privatisation and investment momentum
Highlighting Pakistan’s privatisation efforts, Aurangzeb confirmed that the government is nearing a decision on the privatisation of the Roosevelt Hotel in New York. He also discussed the government’s broader privatisation agenda, including the Cabinet-approved government-to-government sale of the First Women Bank.
During his US visit, Aurangzeb witnessed the signing of a swap agreement between the State Bank of Pakistan (SBP) and the International Finance Corporation (IFC), in a meeting with IFC Managing Director Makhtar Diop. The minister praised IFC’s decision to designate Pakistan as a regional hub, calling it a strong vote of confidence in the nation’s growing economic potential.
He reaffirmed Pakistan’s commitment to expanding collaboration with the IFC in key development areas, including digital payments, pharmaceuticals, electric vehicles, and commodity exchanges. Aurangzeb also welcomed Diop’s upcoming visit to Pakistan, expected around the Spring Meetings, saying it would further boost cooperation.
Climate resilience and global partnerships
Speaking at the 15th V20 Ministerial Dialogue on “Cost of Capital, Debt & Growth Pathways”, the finance minister highlighted how Pakistan continues to fund flood relief efforts from its own resources despite recurring natural disasters. He appreciated the support of the CVF–V20 Secretariat in helping prepare Pakistan’s Climate Prosperity Plan (CPP) and confirmed that financing under the Country Partnership Framework (CPF) is being made available to implement the plan.
Aurangzeb also called for faster implementation of the Loss and Damage Fund and urged the Green Climate Fund (GCF) to accelerate decision-making for effective climate action in vulnerable countries.
On the sidelines of the IMF–World Bank Annual Meetings, Aurangzeb also met with senior management of JP Morgan, where he briefed them on Pakistan’s upcoming Panda Bond issuance in the Chinese market. The bond, he revealed, will be launched as a green bond to support sustainable financing goals under the Pakistan IMF reform plan.
He further discussed growing interest from US companies in the Reko Diq project, and expressed optimism about the EXIM Bank’s participation in the project’s syndication process.
Aurangzeb also touched upon Pakistan’s expanding digital collaboration with Saudi Arabia through the GO AI Hub initiative, which aims to promote technology-driven development and innovation.
Concluding his visit, the finance minister invited JP Morgan and other global financial institutions to explore new avenues of partnership with Pakistan in areas such as sustainable finance, investment facilitation, and digital transformation.
