WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, continued Pakistan’s push for deeper global economic engagement during a series of high-level meetings in Washington, D.C., focusing on strengthening the country’s financial partnerships and advancing its digital transformation agenda.
During his visit, Senator Aurangzeb met with Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank (DIB), acknowledging the bank’s pivotal role as a leading global arranger of Pakistan’s sovereign Sukuk.
The minister briefed him on the country’s improving economic indicators, citing the recent Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) and recent credit rating upgrades by international agencies as signs of renewed investor confidence.
Aurangzeb also discussed Pakistan’s ongoing privatisation efforts, including the sale of the First Women Bank, and the government’s strategy to diversify funding streams through USD, Panda, and Sukuk markets. He expressed optimism about DIB’s continued engagement in Pakistan’s financial landscape.
In subsequent meetings with officials from Sharjah Islamic Bank and Ajman Bank, the finance minister thanked both institutions for their active participation in Pakistan’s latest financial syndications. He also highlighted the government’s plan to launch its first-ever Panda Bond in the Chinese capital market, urging close coordination with Pakistan’s Debt Management Office (DMO) to identify new opportunities for collaboration.
Senator Aurangzeb also met with Dr. Hajar El Haddaoui, Director General of the Digital Cooperation Organisation (DCO), where discussions focused on Pakistan’s growing digital economy. He underscored the government’s initiatives in information technology, payment systems, and the digitisation of government services, stressing the importance of capacity building, skills development, and inclusive digital frameworks** to ensure broad-based growth.
In another engagement, the minister held talks with a delegation from the Currency Exchange Fund (TCX) led by Chief Investment Officer Othman Boukrami. The TCX team briefed Aurangzeb on their efforts to support local currency financing, while the minister outlined Pakistan’s plans to extend debt maturities and access global capital markets through instruments such as Panda Bonds, Eurobonds, and International Sukuk. He assured the delegation that their proposals for enhanced cooperation would be reviewed in detail.
Later, in a meeting with officials from Fitch Ratings, Senator Aurangzeb welcomed the agency’s recent decision to upgrade Pakistan’s credit rating to B- with a stable outlook. He noted with satisfaction that all three major global rating agencies now hold a unified positive view of Pakistan’s economic trajectory.
The finance minister briefed the Fitch team on structural reforms under way in taxation, energy, privatisation, and state-owned enterprises, reaffirming the government’s determination to accelerate privatisation to improve efficiency and fiscal sustainability. He also discussed Pakistan’s progress on trade and tariff negotiations with the US administration, which have led to more competitive export rates for Pakistani goods.
The meeting concluded with an interactive session in which the Fitch team posed questions about Pakistan’s reform plans. Aurangzeb reiterated that Pakistan remains firmly committed to macroeconomic stability, fiscal discipline, and sustained reform momentum.
Read more: https://nayakashmir.com/trump-offers-to-mediate-ceasefire-between-pakistan-and-afghanistan/
