ISLAMABAD, (TDI): A high-level delegation of foreign investors, primarily based in the United States, met with Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division today.
The delegation, organized by former ambassador Ali Jehangir Siddiqui of JS Bank, included prominent entrepreneurs, business leaders, and professionals from various sectors, including technology, academia, and finance.
Notable members of the delegation included Auren Hoffman, CEO of SafeGraph, Kristen Edwards Marqua of Hakluyt & Company, Michael Levi from The D.E. Shaw Group, and Dr. Jeff Chang from Rad AI, among others.
Ambassador Siddiqui began the meeting by providing an overview of the delegation’s composition, the purpose of their visit, and their engagements with various stakeholders in Pakistan.
The Finance Minister, along with Advisor to the Finance Minister Khurram Shehzad and senior officials from the Finance Division and the Federal Board of Revenue (FBR), welcomed the delegation.
Finance Minister Briefing
During the meeting, Senator Aurangzeb briefed the delegation on Pakistan’s recent macroeconomic developments, highlighting key improvements despite long-standing challenges.
He noted that Pakistan has managed to overcome its twin deficits, with improved export performance leading to surpluses in both the fiscal and current accounts.
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Foreign exchange reserves have surpassed the $12 billion mark, inflation has been reduced to single digits, and the policy rate is trending in a favorable direction.
The Finance Minister also outlined the government’s broad reform agenda, which includes privatization, restructuring state-owned enterprises (SOEs), rightsizing the federal government, and implementing pension reforms.
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Senator Aurangzeb also addressed two major challenges facing Pakistan: rapid population growth and climate change. “With a population growth rate exceeding 2%, Pakistan faces significant challenges related to food security, child stunting, and educational access.
Climate change exacerbates these issues, and securing both financial and technical support is critical to addressing them,” he said. He further emphasized the importance of these priorities in his discussions with international partners, including World Bank President Ajay Banga.
Following the briefing, a question-and-answer session ensued. When asked about the implementation of IMF conditions and structural reforms, the Finance Minister emphasized the importance of commitment and execution.
“The ability to implement reforms is essential. While much work remains, we are confident that maintaining our momentum will lead to the desired results,” he said.
In response to another inquiry about the role of the private sector in Pakistan’s economic recovery, Senator Aurangzeb stated, “The government is responsible for providing a stable policy framework, but it is the private sector that must drive economic growth. Our role is to create the conditions that allow the private sector to lead this transition.”
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The delegation expressed its appreciation for Pakistan’s efforts in stabilizing its economy and discussed potential collaboration in areas such as innovation, investment, and financial inclusion.
The meeting concluded with a mutual commitment to strengthen U.S.-Pakistan economic ties and work together to address shared challenges and opportunities.
foreign investors, United States, Pakistan, Muhammad Aurangzeb, Ambassador Ali Jehangir Siddiqui,
