Pakistan’s finance minister attends MENAP meeting with MD IMF

Washington DC: Federal Minister for Finance and Revenue Mohammad Aurangzeb, attended the Middle East and North Africa (MENAP) Ministers and Governors meeting with the Managing Director IMF.

The finance minister, in his intervention, highlighted geo-economic fragmentation and its impact on Pakistan.

He thanked IMF, Multilateral Development Banks MDBs and its time-tested sincere bilateral partners for their support in helping the country respond to unprecedented challenges.

He further underscored aggressive reforms including broadening the tax net, privatizing loss making State Owned Enterprises SOEs, expanding social safety net and facilitating the private sector.

The minister also underlined the importance of rechanneling of Special Drawing Rights SDRs, review of surcharges policy and prioritizing the Resilience and Sustainability Trust RST in view of climate vulnerabilities.

The minister called for a more proactive and responsive Global Financial Safety Net to tackle the elevated risks. He welcomed the renewed emphasis of the Fund on Capacity Building through Regional Capacity Development Centers (RCDCs).