Washington—Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met Asian Development Bank (ADB) President Masato Kanda in Washington, DC. The meeting appreciated the Bank’s long-standing partnership in Pakistan’s development, including the Country Partnership Strategy 2026-2030 and budgetary support. The Finance Minister sought ADB’s support in providing a partial credit guarantee for the issuance of Panda Bonds.
During the same visit, the Finance Minister met Christos Harpendets, Vice President of Philip Morris International. In the meeting, the Finance Minister requested Philip Morris International to share its tax proposals with the Ministry of Finance. He stressed the need to ensure effective enforcement and compliance to prevent illegal production and sale of tobacco. Further, the Finance Minister informed us that the Tax Policy Office has been transferred to the Ministry of Finance. So that decisions regarding tariffs and duties can be taken keeping in mind the economic value.
The Finance Minister also met the commercial team of Moody’s, wherein he briefed the Moody’s team on the progress on the government’s structural reforms agenda. The Finance Minister said that Pakistan has been put on the path of sustainable economic growth. He described economic indicators such as falling inflation and increasing remittances as positive.
Further, the finance minister met Queen Maxima of the Netherlands, wherein discussions were held on women’s issues, enhancing digital access, and effective exchange of data between institutions. The Finance Minister apprised the Queen of the Netherlands of the progress in financial inclusion of Pakistani women and made a special mention of the National Financial Inclusion Strategy with the help of international partners.
