Washington D.C.: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of high-level meetings on the sidelines of the IMF–World Bank Spring Meetings in Washington D.C., aimed at deepening economic partnerships, promoting financial inclusion, and strengthening Pakistan’s investment outlook.
In a meeting with Mr. Andrew Torre, Regional Vice President of VISA, the Minister appreciated the company’s expanding role in Pakistan’s digital economy. He lauded VISA’s partnership with 1-Link and PayPak, which is expected to enhance financial inclusion, e-commerce, and secure transactions. VISA’s decision to triple the size of its office in Pakistan was highlighted as a major boost for the country’s digital financial infrastructure. The Minister assured full governmental support in addressing any operational issues.
During a separate meeting with Mr. Christos Harpanditis, Vice President of Philip Morris International, the Minister recognized the company’s longstanding presence in Pakistan and acknowledged its contributions to the economy. He emphasized ongoing tax reforms centered on people, processes, and technology, and the need for strict enforcement against illicit tobacco trade. He also invited the company to submit taxation proposals for further evaluation by the Ministry.
At a seminar hosted by JP Morgan on “Pakistan’s Economic and Monetary Policy Outlook,” Senator Aurangzeb engaged with leading institutional investors, presenting Pakistan’s improving macroeconomic indicators—such as twin surpluses, declining inflation, growing reserves, and strengthened debt management. He noted that these improvements had led to a recent upgrade in Pakistan’s sovereign credit rating by Fitch. He also condemned terrorism in all its forms while referring to a tragic incident involving tourists in India.
In a meeting with Mr. Masato Kanda, President of the Asian Development Bank (ADB), the Minister praised ADB’s continued support through the Country Partnership Strategy 2026–2030 and budgetary aid. Discussions focused on accelerating project implementation and Pakistan’s request for a partial credit guarantee for its upcoming Panda bond. Senator Aurangzeb confirmed Pakistan’s participation in the CAREC meeting scheduled for November 2025.
These engagements underscore Pakistan’s commitment to fostering global partnerships, advancing financial reform, and driving inclusive economic growth
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