Finance Minister calls for review of Pakistan’s credit rating

WASHINGTON: Finance Minister Muhammad Aurangzeb conducted a series of high-level meetings with prominent financial entities, including representatives from S&P Global, the Asian Development Bank (ADB) and the Digital Cooperation Organisaton (DCO).

During his discussion with the S&P Global, Aurangzeb detailed Pakistan’s improving economic landscape, focusing on recent strikes in fiscal stability in particular.

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He highlighted improvements in external account metrics – a positive shift in key economic indicators.

The finance minister talked about the decline in the government’s financial burden, which is expected to ease debt repayment obligations.  

He expressed confidence that the finance firm would soon revise Pakistan’s credit rating upward.

Aurangzeb also met with the ADB President, Masatsugu Isakawa. The minister commended the ADB for its role in supporting Pakistan’s development initiatives.

He also thanked the global financial institute for its decision to exempt Pakistan from excess exposure to limit surcharges and facilitating a smoother financial transactions.

He acknowledged  the ADB’s approval of $50 million for the Natural Disaster Protection Programme, noting the importance of improving the country’s response against climate change.

In a separate meeting with Dima Elahi, Secretary General of the Digital Cooperation Organisation, Aurangzeb detailed the growth within Pakistan’s information technology (IT) sector.

He outlined the government’s focus on creating an inclusive digital ecosystem aimed at improving governance, bettering the public’s living standards and driving economic growth.

The finance minister talked about the necessity of collaborative efforts in developing digital infrastructure to foster a growing digital economy, attract foreign investment and advance digital governance,