Pakistan’s Finance Minister Muhammad Aurangzeb has stressed export-led growth, higher IT exports and improved global competitiveness during meetings with international financial institutions and officials. He also highlighted debt sustainability as a key step towards achieving a double-B sovereign credit rating.
According to the Finance Ministry, Aurangzeb met US Treasury Under Secretary for International Affairs Erin Brown in Bangkok. The meeting took place on the sidelines of the World Bank Group and International Monetary Fund annual meetings. State Bank Governor Jameel Ahmad also attended the discussion.
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The participants reviewed Pakistan’s economic outlook, ongoing reforms and external financing needs. Aurangzeb highlighted Pakistan’s plans to diversify funding sources through sukuk, Panda bonds and other financial instruments. He also referred to the country’s $3 billion Eurobond issuance in September.
The finance minister discussed progress under the IMF programme and ongoing tax reforms. He also highlighted three consecutive years of primary fiscal surpluses and foreign exchange reserves of approximately $21.6 billion. The discussions also covered the effects of regional conflicts on energy supplies, inflation and food security.
Aurangzeb stressed the need to increase exports and strengthen the international competitiveness of Pakistani products. He particularly emphasised expanding IT exports to support sustainable economic growth. He said maintaining debt sustainability would also help Pakistan improve its sovereign credit rating.
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The meeting also covered privatisation, outsourcing airport management and engagement with Boeing. Officials discussed potential financial support from the US Export-Import Bank. Aurangzeb expressed appreciation for continued US cooperation with Pakistan.
Separately, the finance minister met a Deutsche Bank delegation to discuss financial strategy, access to global capital markets and privatisation. He highlighted improvements in economic stability, foreign exchange reserves, sovereign credit ratings and investor confidence. The meeting also reviewed private investment opportunities and Pakistan’s plans to return to international capital markets through Panda bonds and Eurobonds.
Officials also discussed diversifying financing options through sukuk, rupee-denominated instruments and dollar-settled bonds. They explored the possible tokenisation of Eurobonds as another way to expand Pakistan’s financing options.