ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during a series of high-level engagements on the sidelines of the 2025 WBG/IMF Spring Meetings in Washington, emphasized the importance of climate resilience, attracting foreign investment, and promoting economic diversification.
According to press release issued by finance ministry here Saturday, at the high-level dialogue of the Fund for Responding to Loss and Damage (FRLD), he highlighted climate change as an existential threat to Pakistan, recalling the devastating 2022 floods. He stressed the urgent need to operationalize the Loss & Damage Fund with simplicity, agility, and robust accountability mechanisms, urging faster disbursements to vulnerable nations.
In a meeting with Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), Aurangzeb appreciated MIGA’s efforts in resolving the Star Hydro power dispute and pledged full support for a potential trade finance facility. He welcomed MIGA’s upcoming mission to Pakistan and expressed hope for finalizing the deal this year.
The Finance Minister also held a productive meeting with Thomas Lersten, a Senior Official from the U.S. State Department, thanking the U.S. for its strong participation in the Minerals Conference in Pakistan. He reiterated Pakistan’s desire for constructive engagement to address tariff issues for which a high-level trade and investment delegation was expected to visit the U.S.
During discussions with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), the Minister highlighted Pakistan’s strong macroeconomic indicators, including Fitch’s recent credit rating upgrade. He urged expedited advisory work on Karachi Airport and emphasized subnational governance capacity-building.