Washington, DC – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, concluded his strategic visit to Washington, DC, by engaging in high-level discussions with global financial leaders at the World Bank Group and IMF Annual Meetings. His meetings focused on strengthening Pakistan’s financial infrastructure, enhancing foreign investment, and deepening economic partnerships.
Meeting with Visa Regional President: Driving Payment Modernization and Financial Inclusion
During a meeting with Andrew Torre, Visa’s Regional President, Minister Aurangzeb discussed Visa’s ongoing support for Pakistan’s payment ecosystem, especially through partnerships with local players like 1Link. He praised Visa’s upcoming launch of the Financial Inclusion Card with Meezan Bank, which will improve access to financial services in Pakistan. Both leaders emphasized the importance of expanding transaction routing choices and establishing a fair playing field for domestic processing.
Deepening Pakistan-China Economic Ties: Insights from a Meeting with China’s Vice Minister of Finance
In a strategic discussion with China’s Vice Minister of Finance, Liao Min, Minister Aurangzeb reaffirmed Pakistan and China’s “all-weather strategic cooperative partnership.” He acknowledged China’s steadfast support for Pakistan’s socio-economic development, including recent IMF-backed initiatives. Topics included upcoming Chinese economic reforms, BYD electric vehicles entering Pakistan, and the anticipated launch of a Panda bond to diversify Pakistan’s funding. Both leaders underscored the need to advance online payment settlements and integrate payment systems across both nations.
Exploring Investment with Natixis
Minister Aurangzeb met with Mohammad Kallala, Global Head of Corporate and Investment Banking at Natixis, to discuss Natixis’s expertise in infrastructure, renewables, and technology. Kallala shared potential opportunities for Gulf and Saudi partnerships to facilitate investments in Pakistan. Both agreed to maintain active dialogue for future collaborations.
Strengthening Tech Investments with Google
In a meeting with Karan Bhatia, Vice President of Global Government Affairs and Public Policy at Google, Minister Aurangzeb discussed Google’s expanding role in Pakistan’s economy. Addressing Google’s regulatory and connectivity concerns, the Minister promised full government support to foster a more innovation-friendly environment in Pakistan.
Engaging Pakistani-American Tech Entrepreneurs
Minister Aurangzeb engaged with Pakistani-American tech entrepreneurs, highlighting Pakistan’s rapid growth in IT and its ranking among the top five freelancing countries. He shared the government’s ongoing initiatives to build a digital ecosystem through legislative and policy advancements.
Meeting with AIIB President on Financing and Climate Preparedness
In talks with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), Minister Aurangzeb expressed gratitude for AIIB’s support in Pakistan’s post-flood recovery efforts. They discussed Pakistan’s plans to issue a Panda bond, with AIIB’s partial credit guarantee to enhance investor confidence. The Minister also explored AIIB’s potential support for the N-5 (GT Road) reconstruction and climate resilience initiatives. Jin Liqun accepted an invitation to visit Pakistan, with dates to be determined.
Concluding Engagements with the Pakistani Diaspora and Media in Washington
Minister Aurangzeb concluded his visit by meeting with the Pakistani diaspora, recognizing their contributions to economic ties with the United States. He also briefed Pakistani media correspondents on Pakistan’s recent socio-economic developments and the week’s successful engagements.
Reflecting on his visit, Minister Aurangzeb expressed satisfaction with the outcomes, reaffirming Pakistan’s commitment to reforms that drive economic growth and stability.
