Finance Minister Muhammad Aurangzeb has reaffirmed government’s commitment to fostering an environment where private sector leads economic growth, particularly in driving export-led expansion.

He was talking to a delegation of the International Finance Corporation headed by its Managing Director and Executive Vice President of Mr. Makhtar Diop in Islamabad today.

Welcoming the delegation, the Finance Minister congratulated IFC on its recently signed projects with the private sector and commended the thriving and vibrant role of private enterprises in Pakistan. He also briefed the delegation on Pakistan’s macroeconomic stability, mentioning his recent meeting with IMF Managing Director Ms. Kristalina Georgieva in Dubai.

The Finance Minister further apprised that Ms. Georgieva appreciated the progress Pakistan has made on the macroeconomic front. He highlighted that since the last meeting with IFC in Davos, improvements have been observed on both the debt and equity sides.

Muhammad Aurangzeb also outlined key structural reforms, including the introduction of agricultural income tax, along with pension reforms and rightsizing initiatives across 43 ministries and 400 attached departments, many of which have been merged or wrapped up.

He also thanked IFC for its continuous support and assistance.

Makhtar Diop appreciated the Finance Minister’s hospitality and acknowledged the government’s reform efforts. He noted that private sector stakeholders in Pakistan have expressed confidence in the Finance Minister’s policies and are appreciative of the progress being made. He also commended Pakistan’s Country Partnership Framework with the World Bank, recognizing it as one of the best practices globally.

Makhtar Diop reiterated IFC’s commitment to working closely with Pakistan and providing support in key areas such as green energy, data centers, agricultural supply chain improvements, the telecom sector, and digitization.

The Finance Minister highlighted the government’s recent declaration of warehousing as an industry and reaffirmed its commitment to public-private partnerships in infrastructure, IT, data centers, and AgTech.

The meeting concluded with both sides reaffirming their commitment to continued collaboration and investment in Pakistan’s economic development.