Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, had a constructive meeting with Hon. Mohammad Al-Jadaan, Finance Minister of Saudi Arabia.
Saudi Finance Minister reiterated support for Pakistan’s economic growth including through investments. Both sides agreed to expand bilateral cooperation and scale up the partnership in diverse fields.
Meanwhile, Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, attended the Middle East and North Africa (MENAP) Ministers and Governors meeting with the Managing Director IMF.
The Minister, in his intervention, highlighted geo-economic fragmentation and its impact on Pakistan. He thanked IMF, MDBs and its time-tested sincere bilateral partners for their support in helping the country respond to unprecedented challenges. He further underscored aggressive reforms including broadening the tax net, privatizing loss making SOEs, expanding social safety net and facilitating the private sector.
The minister also underlined the importance of rechanneling of SDRs, review of surcharges policy and prioritizing the RST in view of climate vulnerabilities. The minister called for a more proactive and responsive Global Financial Safety Net to tackle the elevated risks. He welcomed the renewed emphasis of the Fund on Capacity Building through Regional Capacity Development Centers (RCDCs).
