Finance Minister lands in US on Six-day vital visit

WASHINGTON: Finance Minister Muhammad Aurangzeb is in Washington on a six-day visit to the United States to attend IMF and World Bank annual meetings.

The Finance Minister will meet senior officials of international financial institutions and his counterparts from China, United Kingdom, Saudi Arabia, Turkiye and Azerbaijan.

Meetings with IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga, senior White House officials and Chairman of the Congressional Financial Services Committee are also part of his schedule.

He will also address Middle East, North Africa and Pakistan (MENAP) forum as a keynote speaker.

Muhammad Aurnagzeb will participate in regional roundtable organized by World Bank on Federal Board of Revenue’s digital transformation wherein the tax officials of participating countries will highlight their respective countries’ tax reforms.

He will also attend events organized by World Economic Forum.

Muhammad Aurangzeb will discuss tax proposals and investment opportunities in Pakistan with officials and members of the US-Pakistan Business Council.

Read More: Pakistan–IMF ‘reach agreement’ on most import policy points

He will also meet with officials of global credit rating agencies, commercial banks, especially Middle Eastern investment banks and highlight Pakistan’s economic scenario.

The Finance Minister will visit leading US think tanks including the Atlantic Council and the Peterson Institute of International Economics, and will also meet with prominent members of the Pakistani diaspora in the United States.

Additionally, Aurangzeb will hold discussions with senior White House officials, meet the Chairman of the Financial Services Committee of the US Congress.

The next round of economic review talks between Pakistan, and the IMF will be held in Washington alongside the annual meetings from October 13 to 18. The discussions aim to reach a staff-level agreement that could unlock the next $1.2 billion tranche under the ongoing loan programme.

The finance ministry sources have said that Pakistan’s virtual talks will be continued with the IMF which have been assured of Pakistan’s implementation of the remaining targets set by the lender.

“Talks have been underway over the draft of the memorandum of economic and financial policies (MEFP), while the country has sought time from the IMF for publishing the Corruption and Governance Diagnostic Assessment Report,” according to sources.

“The report will be published after making amends in it,” sources said.

Sources said that the staff level deal with the IMF will be signed after after agreement over the MEFP.

“The IMF has been requested for softening and amendments in the MEFP draft”, sources added.