WASHINGTON: Federal Minister for Finance and Revenue Muhammad Aurangzeb has stressed the need to increase the support of the US Exim Bank to promote US investment in Pakistan and said that Pakistan has signed a staff-level agreement with the International Monetary Fund (IMF) on the first review under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF).
According to the Ministry of Finance, he met separately with senior representatives of the US Export-Import Bank (Exim) and the UK Minister of State for International Development Baroness Chapman in Washington DC on the sidelines of the IMF and World Bank annual meetings.
The delegation of senior representatives of Exim was led by Acting First Vice President and Vice Chairman Jim Barrows. In the meeting, the Finance Minister apprised the delegation of Pakistan’s improving economic situation and the financial reforms undertaken by the government.
He said that Pakistan has signed a staff-level agreement with the IMF on the first review under the Extended Fund Facility (EFF) and the new arrangement under the Resilience and Sustainability Facility (RSF).
The Finance Minister also briefed on the progress made in the Reko Diq project and highlighted the importance of this project in promoting foreign investment.
He stressed the need to increase the support of the US Exim Bank to promote US investment in Pakistan.
Muhammad Aurangzeb also expressed his desire to resolve tariff-related issues with the US in a constructive manner and further strengthen bilateral trade relations.
According to the Ministry of Finance, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, while talking to the UK Minister of State for International Development Baroness Chapman on the sidelines of the Spring Meetings of the IMF and the World Bank, thanked her for the UK’s long-standing partnership with Pakistan and its continued support in the socio-economic development of the country.
He briefed on the World Bank’s 10-year Country Partnership Framework (CPF) for Pakistan, which has a special focus on population issues and climate resilience.
The Finance Minister, while emphasizing the need to reduce human contact between taxpayers and tax collectors through the use of technology, also appreciated the role of REMIT in conducting a comprehensive review of development assistance of the last two years and formulating an effective communication strategy.
