Police Officers Scrutinized for Releasing Chinese Detainees in Alleged Corruption Case

Finance Minister Muhammad Aurangzeb held a series of high-level meetings with senior officials of the International Monetary Fund (IMF) in Washington to review Pakistan’s economic performance and discuss the progress of the country’s reform agenda. The meetings included discussions with IMF First Deputy Managing Director Dan Katz, Deputy Managing Director Nigel Clarke, Middle East and Central Asia Department Director Jihad Azour, and IMF Mission Chief for Pakistan Iva Petrova. During the talks, the finance minister presented an overview of Pakistan’s recent macroeconomic performance. He highlighted improvements in fiscal management, stronger external accounts, higher foreign exchange reserves, record inflows of overseas workers’ remittances, and a healthier current account position. He also noted that the government had met its revenue collection targets, which he said reflected the positive impact of ongoing economic reforms. The discussions also focused on Pakistan’s progress under the IMF-supported Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). Both sides reviewed measures aimed at strengthening economic stability and ensuring long-term, sustainable growth. Aurangzeb briefed IMF officials on reforms in taxation, the energy sector, public debt management, tariff rationalisation, and the government’s privatisation programme. He also discussed efforts to broaden financing sources, improve the investment climate, and restore Pakistan’s access to international capital markets. The meetings further covered issues related to human capital development, increasing women’s participation in the economy, addressing demographic challenges, encouraging technology-led growth, and promoting private sector investment and export-driven development. The finance minister reaffirmed the government’s commitment to maintaining fiscal discipline and implementing structural reforms. He said Pakistan would continue pursuing policies aimed at strengthening economic stability, improving investor confidence, and achieving long-term economic transformation. During his visit to Washington, Aurangzeb also met John Jovanovic, President and Chairman of the Export-Import Bank of the United States, to discuss expanding economic cooperation between the two countries. The meeting focused on financing long-term development projects and increasing bilateral trade in agricultural commodities, including cotton and soybeans, as well as cooperation in the hydrocarbons sector. The two sides also explored opportunities to facilitate greater access to US financing, technology, equipment, and services for priority projects in Pakistan. Officials agreed to identify short-term investment opportunities, appoint focal persons from both sides, and prepare a strategic cooperation framework. The proposed framework is expected to be finalised and signed on the sidelines of the United Nations General Assembly session in September 2026.