Minister for Finance Muhammad Aurangzeb met with US State Department officials Donald Lu and Elizabeth Horst in Washington, reaffirming bilateral ties as Pakistan seeks a new IMF loan agreement.
Aurangzeb, currently attending spring meetings hosted by the IMF and World Bank, discussed economic partnerships with a focus on alternative energy, agriculture, climate resilience, and the tech industry.
During the meeting, Aurangzeb briefed the US diplomats on Pakistan’s reform agenda, emphasizing tax base expansion, energy sector streamlining, and privatization. Identified investment opportunities in IT, renewables, agriculture, and minerals were highlighted, with pledges for collaboration with US development agencies.
Earlier, Aurangzeb briefed the WB-IMF Pakistan Staff Association on the country’s reform agenda, emphasizing tax base expansion, energy sector reforms, and digitalization. He also met with IMF officials, advocating for aggressive reforms to stabilize Pakistan’s economy and drive sustainable growth.
In discussions with IMF Managing Director Kristalina Georgieva, Aurangzeb underscored the need for aggressive reforms, including tax net expansion, SOE privatization, and social safety net expansion. He stressed the importance of reallocating SDRs within the IMF and reassessing surcharge policies.
Pakistan’s pursuit of a 24th IMF package includes comprehensive economic recovery plans focused on taxation, energy, and SOE privatization. While the IMF board is set to convene on April 29 to discuss the final tranche of the current programme, discussions on a new package tailored to Pakistan’s needs are anticipated.
