Pakistan to explore international capital markets in due course, says Aurangzeb

Finance Minister Muhammad Aurangzeb said the government would explore tapping into the international capital markets in due course.

The remarks from Aurangzeb came during a meeting with a delegation of CitiBank led by Jay Collins, Vice Chair of Public Sector.

“During the meeting, Aurangzeb briefed the bank team about the reforms being undertaken in the areas of taxation, energy, state-owned enterprises (SEOs), pensions and right-sizing of the government and outlined the long-term road-to-market strategy,” the Finance Division said.

The meeting came on the sidelines of the Annual Meetings of the World Bank Group and International Monetary Fund (IMF), being held in Washington DC from October 21 to October 26, 2024.

Pakistan’s Finance Minister Muhammad Aurangzeb is leading the country’s delegation.

Stay the course on reforms, IMF urges Pakistan

In a separate meeting, Aurangzeb met with his Saudi counterpart, Mohammed Aljadaan.

Appreciating the historical, fraternal bonds between Pakistan and the Kingdom of Saudi Arabia, the two ministers resolved to deepen mutually beneficial economic ties further, enhance bilateral trade, and facilitate investments in key sectors, read the statement.

The Saudi minister shared his experience of reforms in the energy sector. “Both sides agreed to advance cooperation in areas of mutual interest.”

Aurangzeb also held a meeting with Mehmet Şimşek, Türkiye’s Treasury and Finance Minister.

Pakistan’s accelerated access to capital markets: Alvarez & Marsal team outlines steps

During the meeting, Aurangzeb stated great potential existed to enhance the current volume of bilateral trade.

He said that Pakistan could learn from Türkiye’s experience of power sector reforms and invited Turkish firms to enter into mutually beneficial JVs with Pakistani counterparts.