Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced that the Pakistan economy is open to receiving foreign direct investments from US companies. Speaking to Bloomberg News during his week-long visit to Washington, Aurangzeb revealed that Pakistan plans to issue its first-ever Panda bond this year. The bond will range between 200 million dollars and 250 million dollars.
The Finance Minister was in the United States to attend the spring meetings of the International Monetary Fund (IMF) and the World Bank. He said Pakistan aims to increase its imports from the US, particularly focusing on buying cotton and soybean. The country also seeks to dismantle non-tariff barriers in order to escape the heavy tariffs imposed during President Donald Trump’s administration.
According to Senator Aurangzeb, efforts are underway to remove trade restrictions and make the Pakistani market more accessible to American products. He mentioned that a Pakistani trade delegation would soon visit Washington to work on narrowing the trade gap.
Speaking about the broader health of the Pakistan economy, the minister said Pakistan narrowly avoided default in 2023. It has since secured a preliminary agreement for a 2.3 billion dollar IMF loan, which will ensure financial stability up to 2027. Aurangzeb added that global rating agency Fitch upgraded Pakistan’s credit rating last week. The upgrade reflects growing confidence in Pakistan’s ability to sustain reforms under the ongoing IMF program.
In another significant address, Senator Aurangzeb called for stronger financial and technical support among developing nations. He spoke during the G-24 Finance Ministers and Central Bank Governors’ Meeting, held on the sidelines of the 2025 Spring Meetings of the IMF and World Bank.
Highlighting progress, he noted that the Pakistan economy has achieved macroeconomic stability through a resilient banking sector and active government-led reforms. Aurangzeb stressed the need to continue reforms, especially considering rising geopolitical tensions, growing protectionism, demand fragmentation, and external risks like new trade tariffs.
The Finance Minister emphasized that boosting regional trade corridors and enhancing connectivity are crucial for sustaining the Pakistan economy. He also advocated for stronger South-South cooperation to increase investment and promote trade flows among developing countries.
Aurangzeb concluded by underlining that despite global challenges, Pakistan remains committed to its reform agenda, aiming to build a robust, resilient, and growing economy.
