Finance Minister Muhammad Aurangzeb met with US State Department officials Donald Lu and Elizabeth Horst, who reiterated Washington’s commitment to strengthening ties between the two nations. Aurangzeb, currently in Washington for the spring meetings organized by the International Monetary Fund (IMF) and the World Bank (WB), discussed Pakistan’s economic reform program, including discussions with the IMF for a new multi-billion dollar loan agreement. The meeting with US diplomats focused on enhancing economic partnerships, particularly in alternate energy, agriculture, climate resilience, and the tech industry. Aurangzeb briefed the diplomats on Pakistan’s reform agenda, emphasizing areas such as broadening the tax base, energy sector streamlining, and privatization. Additionally, Aurangzeb met with the WB-IMF Pakistan Staff Association to discuss further economic reforms, including tax expansion, energy sector reforms, and digitalization. Aurangzeb also pledged aggressive reforms during a meeting with the IMF chief and other board members, highlighting the importance of addressing economic challenges effectively through collaboration and capacity-building initiatives. Pakistan is seeking another long-term package from the IMF and has formulated a comprehensive economic recovery plan focusing on taxation, energy, and privatization. The IMF board is set to convene on April 29 to discuss releasing the final tranche of its current program with Pakistan, with further discussions expected on a new package tailored to Pakistan’s specific needs.
