Finance Minister Muhammad Aurangzeb stated that Pakistan doesn’t require an excessive number of policy recommendations but rather needs to implement existing policies. He emphasized this during his first working day in Washington, where he attended the Atlantic Council think tank and highlighted the importance of institutions like the World Bank and IMF in assisting countries like Pakistan to address climate change effects and achieve financial inclusivity. Aurangzeb, who is in the US to attend the World Bank group’s spring meetings and discuss a new loan package with the IMF, stressed the need for financial inclusiveness and climate resilience. He noted Pakistan’s vulnerability to climate change despite not being a major emitter and highlighted the importance of financial inclusion for women in the national economy. Aurangzeb also expressed Pakistan’s intention to seek a new IMF program and emphasized the need for two to three years for structural reforms. He aims to conclude formalities for a new Extended Fund Facility (EFF) package with the IMF during his stay in Washington. Additionally, Pakistan anticipates an IMF mission visiting Islamabad next month for further talks on the loan, and plans to negotiate increased financing with the World Bank. Aurangzeb emphasized the need to expand the tax base, reform the tax collection system, and encourage public-private partnerships for economic growth. He highlighted the government’s commitment to attracting foreign and domestic investments in key sectors, including agriculture, IT, mines & minerals, and energy. Aurangzeb also met with Mohamed Nasheed, former president of the Maldives and head of the Climate Vulnerable Forum, to discuss Pakistan’s vulnerability to climate change and its efforts to address climate challenges
