Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has announced the successful conclusion of negotiations with the United States administration, resulting in a significant tariff deal. The breakthrough came as the minister engaged in a series of high-level meetings while attending the annual sessions of the International Monetary Fund (IMF) and the World Bank.
The finance minister revealed the development during a discussion with Assistant US Treasury Secretary for International Finance, Mr. Robert Kaproth, and Counselor Jonathan Greenstein. During the meeting, Senator Aurangzeb also outlined Pakistan”s strong economic fundamentals, which are supported by the ongoing IMF programme, and briefed the officials on forthcoming legislation designed to regulate virtual assets, according to official information today.
In a bid to attract foreign capital, the minister extended an open invitation to American companies to explore investment opportunities in Pakistan”s oil and gas, mineral, agriculture, and information technology sectors.
Later, while addressing the leadership and members of the US-Pakistan Business Council, Senator Aurangzeb elaborated on the improvements in the nation”s macroeconomic indicators. He underscored that the private sector must take the lead in driving the country”s economic growth forward.
Reiterating the government”s awareness of the challenges confronting the business community, he reaffirmed a commitment to providing maximum possible relief. The minister pointed to the new trade agreement as a foundation for enhanced government-to-government and business-to-business engagements with US firms in priority areas.
In a separate engagement, the finance minister met with representatives from Citi Bank, acknowledging the institution”s long-standing partnership with Pakistan. He provided an overview of the country”s stabilizing economy, driven by structural reforms, and noted Pakistan’s emergence as a growing center for digital innovation.
Earlier in the day, Senator Aurangzeb”s official activities began with a meeting with Mr. Riccardo Puliti, the IFC”s Regional Vice President. The minister commended the IFC”s role in scaling up private sector investment through its Country Partnership Framework and agreed to expedite the financial closure of the flagship Reko Diq project.
The Finance Minister also held a productive meeting with Dr. Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB). He reviewed the Bank”s current project portfolio in Pakistan, emphasizing the need for faster implementation, and expressed gratitude for the IsDB”s approval of financing for two sections of the M-6 motorway. Both parties concurred on the necessity for a new Country Engagement Framework.