Addressing the G24 Ministers’ meeting, Aurangzeb also drew attention to the significant debt burden confronting developing nations, advocating for collaborative efforts to tackle this issue
News Desk
WASHINGTON: In a crucial address in Washington, Pakistan’s Finance Minister Senator Muhammad Aurangzeb underscored the pressing need for the country to embrace comprehensive economic reforms. Speaking during discussions with the International Monetary Fund (IMF) Director, he articulated the urgency of transforming Pakistan’s economic framework, highlighting that the nation has no viable alternative but to embark on this path.
The finance minister emphasized the government’s determination to broaden the tax base by integrating tax defaulters into the national revenue system. This move is seen as vital for reducing reliance on foreign aid and fostering a self-sustaining economy. Aurangzeb candidly stated that without implementing these economic reforms, Pakistan faces a precarious future, which could include the privatization of loss-making state enterprises. His remarks reflect a sobering acknowledgment of the challenges ahead as the government seeks to stabilize the economy amidst mounting pressures.
Addressing the G24 Ministers’ meeting, Aurangzeb also drew attention to the significant debt burden confronting developing nations, advocating for collaborative efforts to tackle this issue. He highlighted the need to address environmental challenges, particularly in the context of countries like Pakistan, which are disproportionately affected by climate change despite their limited contributions to the crisis. This call for unity resonates as global leaders increasingly recognize the intersection of economic stability and environmental sustainability.
Furthering his diplomatic engagements, the finance minister met with his Saudi counterpart, where he reiterated Pakistan’s commitment to enhancing bilateral trade and facilitating investment in key sectors. This dialogue signals a strategic effort to strengthen economic ties with Saudi Arabia, one of Pakistan’s most important partners in the region. In addition, Aurangzeb’s meeting with a delegation from Citibank emphasized the government’s resolve to attract foreign investment and bolster economic opportunities. These discussions reflect a broader strategy aimed at revitalizing Pakistan’s economy by fostering relationships with international financial institutions and investors.
Overall, Senator Muhammad Aurangzeb’s engagements in Washington illustrate Pakistan’s urgent call for reform and collaboration as it navigates a complex economic landscape. His messages resonate not only within Pakistan but also in the international arena, as the country seeks to redefine its economic future through strategic partnerships and innovative policies.
