ISLAMABAD, October 27, 2024: Finance Minister Mohammad Aurangzeb has wrapped up a two-week visit to the United States, where he attended the annual meetings of the International Monetary Fund (IMF) and the World Bank.
During his trip, he engaged with high-level economic decision-makers from various countries and senior officials from multinational financial institutions.
In a statement issued by the Finance Ministry, Aurangzeb shared insights from an interactive session with Pakistani journalists in Washington, where he discussed Pakistan’s economic policies and reform initiatives.
Notably, he met with Andrew Torre, Regional President for Visa, who reiterated the company’s commitment to modernizing Pakistan’s payment ecosystem, including support for local payment networks like 1Link. They also announced the upcoming launch of the Financial Inclusion Card in collaboration with Meezan Bank.
Aurangzeb further held discussions with Liao Min, Vice Minister of Finance for China, reaffirming the strong strategic partnership between Pakistan and China. He expressed gratitude for China’s support in securing the IMF’s Extended Fund Facility (EFF) and noted Pakistan’s interest in learning from Chinese economic reforms.
The Finance Minister welcomed BYD’s decision to introduce electric vehicles in Pakistan and announced plans for launching a Panda bond to diversify financing sources. Both sides agreed on enhancing online payment systems and increasing limits under the Currency Swap Agreement.
Additionally, Aurangzeb met with Mohammad Kallala, Global Head of Corporate and Investment Banking at Natixis, to explore financing opportunities for investments in Pakistan, particularly from Gulf investors.
He also engaged with Karan Bhatia, Vice President of Google, who outlined the company’s initiatives in Pakistan and discussed challenges related to regulations and connectivity. Aurangzeb assured full support in addressing these issues.
The Finance Minister concluded his visit by interacting with Pakistani-American tech entrepreneurs, emphasizing the growing significance of the IT sector and Pakistan’s position among the top five countries in freelancing.
He highlighted ongoing efforts to enhance the digital ecosystem through various legislative and policy initiatives. The visit ended with a Q&A session, reflecting on the fruitful engagements during the annual meetings.
