Finance Minister Muhammed Aurangzeb has emphasized the pivotal role of the private sector in driving Pakistan’s economic future, stating that the government’s role was to provide policy frameworks and ensure continuity.

He was addressing a landmark economic dialogue hosted by the Embassy of Pakistan in Washington DC, on the sidelines of the IMF and World Bank Spring Meetings, bringing together Pakistan’s economic leadership, global financial institutions, and corporate representatives from the United States.

The Finance Minister described this shift as a mindset and societal change, likening it to the transformative impact of AI.

In a candid discussion with the participants, Finance Minister addressed question related to ease of doing business and reiterated Government’s commitment to continue with the reform process. He highlighted population growth and climate change as two major existential issues, calling for private-sector collaboration on investable projects, leveraging available financing and technical expertise. He reiterated the Prime Minister’s vision of running Pakistan as “Pakistan Inc.,” with the government acting as public servants to support investors.

The event showcased Pakistan’s remarkable economic turnaround and its potential as a global investment destination.

Ambassador Rizwan Saeed Sheikh, in his welcome remarks, highlighted Pakistan’s geostrategic and geo-economic significance as a market of 250 million people and a gateway to Central Asia, China, the GCC, and Afro-Asian regions. He highlighted Pakistan’s spectacular economic performance, frequently lauded during the IMF-World Bank meetings.

The Ambassador highlighted IT sector of the country that outshined its competitors in terms of cost and quality competitiveness. He also highlighted Pakistan’s mineral wealth and futuristic opportunities announcing plans for recurring events to foster U.S.-Pakistan business ties.

CEO of Jazz, Amir Ibrahim, celebrating the country’s economic stabilization over the past 15 months urged stakeholders to embrace optimism. Amir Ibrahim emphasized Jazz’s role in enhancing digital infrastructure, working with regulators to ensure technology benefits all, not just the elite. He called for collective positivity to drive a progressive and prosperous Pakistan.

Vice President External Affairs Philip Morris, Christos Harpantidis, highlighted his company’s commitment to Pakistan. Noting the existing investment of $800 million, He said that the company was in the process of enhancing its investment and footprints in Pakistan, given the profitability ratio. He attributed this confidence to the stable economic environment, growth rebounds, controlled inflation, and exchange rate stability.

CEO TRG, Husnain Aslam, shared the success story of his IT holding company, which employs 35,000 globally, including 9,000 in Pakistan serving U.S. clients like Amazon and Walmart. He endorsed the Prime Minister’s vision to grow IT exports from existing $3 billion to $25-30 billion, emphasizing the sector’s scalability due to robust telecom infrastructure and a young English-speaking talent pool.

World Bank Vice President for South Asia, Martin Raiser, commended Pakistan’s economic turnaround, driven by fiscal, energy, and market-based exchange rate reforms. He stressed the need for higher investment and sustainable growth to leverage Pakistan’s demographic dividend, aligning with the World Bank’s focus on jobs through assets, policies, and private-sector engagement.

Martin Raiser described the World Bank’s 10-year, $40 billion Country Partnership Framework as a commitment to sustained reforms, addressing foundational issues like resilience and livability to foster faster growth and job creation.

Executive Director IMF, Bahadur Bijani, sharing his personal views, reflected on Pakistan’s challenging journey. He praised Pakistan’s consistent policy implementation, strong ownership, and proactive communication, resulting in record-low inflation, stabilized currency, and structural reforms.

He noted market recognition of this progress, including credit rating upgrades. He said these gains were a starting point requiring safeguarding. He commended Finance Minister Aurangzeb, Governor Jamil Ahmed, and Prime Minister Shehbaz Sharif for empowering the economic team, expressing optimism for Pakistan’s continued progress.

Senior Vice President for Asia, U.S. Chamber of Commerce, Charles Freeman, announced a U.S. Chamber of Commerce and U.S.-Pakistan Business Council delegation to Pakistan, the first in seven years, signaling renewed confidence in the market. He highlighted Pakistan’s long-known potential, with U.S. firms present for over 50 years. Freeman praised Pakistan’s recent turnaround, offering greater certainty, transparency, and rule of law compared to other markets.

Later, Finance Minister Muhammed Aurangzeb interacted with the corporate leaders and addresses their queries related to investment potential of the country.