- Aurangzeb highlights reform progress, IMF engagement and measures to safeguard energy supplies and economic stability
Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with the British High Commissioner to Pakistan, Jane Marriott, who called on him at the Finance Division on Thursday. The discussions focused on regional developments, Pakistan’s macroeconomic outlook, progress on economic reforms, and opportunities to further strengthen bilateral economic cooperation between Pakistan and the United Kingdom.
During the meeting, the Finance Minister briefed the High Commissioner on the government’s proactive approach to managing potential economic implications arising from evolving regional developments. He informed her that the Prime Minister has constituted a high-level committee comprising key federal ministries and the State Bank of Pakistan to closely monitor the situation and conduct daily assessments of critical sectors, particularly energy supplies and global commodity markets.
The committee is reviewing supply chains, price trends, and possible disruptions in petroleum products, crude oil, coal, and gas. It is also evaluating potential implications for inflation, external accounts, and overall financial stability.
Senator Aurangzeb emphasized that Pakistan currently maintains adequate reserves and supply arrangements. He noted that the government is undertaking scenario planning and sensitivity analysis should the regional situation persist. He added that authorities are also reviewing energy conservation measures and coordinating with provincial governments to ensure prudent resource management while preventing unnecessary market panic.
The Finance Minister also updated the High Commissioner on Pakistan’s ongoing economic reform agenda and engagement with the International Monetary Fund under the current programme. He reaffirmed the government’s commitment to meeting programme benchmarks and advancing structural reforms, particularly in tax policy, revenue mobilization, governance, and institutional transparency.
Highlighting recent economic trends, Senator Aurangzeb noted that Pakistan’s macroeconomic indicators are showing signs of stabilization and recovery. Economic growth in the first quarter of the current fiscal year reached 3.7 percent, supported by improvements in large-scale manufacturing and continued resilience in the agriculture sector. He added that the government is now focused on transitioning from economic stabilization to sustainable and inclusive growth while addressing social challenges such as unemployment and poverty.
Ms. Marriott appreciated the government’s commitment to economic reform and reiterated the United Kingdom’s continued support for Pakistan’s efforts toward macroeconomic stability and long-term growth. She emphasized that the UK remains a key partner in Pakistan’s development and economic transformation, including through support for reform initiatives, private sector engagement, and technical cooperation.
The High Commissioner also underscored the importance of promoting investor confidence, particularly in sectors such as mining and minerals development. Both sides exchanged views on ensuring stability, good governance, and sustainable development in resource-rich regions to attract international investment and promote inclusive economic growth.
Senator Aurangzeb welcomed the United Kingdom’s continued engagement and support for Pakistan’s reform agenda. Both sides reaffirmed their commitment to strengthening Pakistan-UK economic cooperation and maintaining close coordination on shared economic and development priorities.
BY: Nadeem Faisal Baiga
