Business
Finance Minister Aurangzeb arrives in Washington to attend IMF, World Bank plenary meetings
Finance Minister Muhammad Aurangzeb reached Washington on Sunday, where he will attend plenary meetings of the International Monetary Fund (IMF) and World Bank (WB) from Oct 13 to 18.
The meetings bring together global finance ministers, central bankers and development leaders, offering Pakistan a crucial platform to secure the next IMF tranche, advance economic reforms, and engage international partners on growth, investment, and resilience.
Aurangzeb’s visit comes after a IMF mission concluded talks with Pakistani authorities on reviews of two lending programmes totalling $8.4 billion without announcing a staff-level agreement (SLA).
Before leaving for the US, the finance minister had expressed optimism that the SLA with the IMF would be finalised next week during his visit to Washington.
Separately, Pakistani officials in Washington told media representatives that during the 2025 annual meetings, the delegation from Islamabad would focus on securing the third IMF tranche, meeting the remaining programme benchmarks and presenting verified flood-related loss estimates, with provincial contributions aligned to federal targets.
Last month, Prime Minister Shehbaz Sharif had urged the lender to take into account the recent flood damage in its review for the country.
A member of the IMF since 1950, Pakistan has entered over twenty lending arrangements with it, reflecting both its need for external support and the IMF’s stabilising role during crises.
Similarly, the WB has supported Pakistan in energy, transport, human capital, social protection, and climate resilience projects.
During Aurangzeb’s meetings in Washington, WB projects on climate adaptation, digitalisation of the Federal Board of Revenue (FBR) along with infrastructure development, and engaging investors and rating agencies to strengthen confidence in Pakistan’s economic management will come under discussion.
The minister is also scheduled to participate in a regional round table meeting on the digital transformation of Pakistan’s tax system, organised by the WB.
Islamabad’s long-standing engagements with the two institutions have been providing vital assistance to Pakistan, though they require the country to meet challenging fiscal and structural conditions.
Outcomes from these discussions, particularly the SLA with the IMF, will be key to sustaining economic stability and guiding the country’s growth trajectory in the coming year.
The annual meetings of these international institutions are the world’s leading forums for addressing global economic challenges, financial stability and development strategies. They provide Pakistan with a platform to demonstrate reform commitment, secure multilateral support, and signal stability to investors and international partners.
Pakistan’s participation in these meetings is particularly significant as it seeks to implement structural reforms, manage fiscal and debt pressures, and reassure investors and multilateral lenders of its policy credibility.
Aurangzeb’s engagements
Earlier, the finance ministry shared details of Aurangzeb’s engagements in Washington, which include 65 meetings and official engagements, according to state-run APP.
He is expected to hold meetings with senior officials of the IMF, WB, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA).
Moreover, he is expected to meet WB President Ajay Banga in a one-on-one session and attend a dinner hosted by Banga for finance ministers of selected countries. He would also meet IMF Managing Director Kristalina Georgieva during engagements on the sidelines of meetings of the G24 and MENAP (Middle East, North Africa, Afghanistan, and Pakistan) countries, where he would deliver a keynote address.
He would take part in two events hosted by the World Economic Forum and hold bilateral meetings with finance ministers of China, the United Kingdom, Saudi Arabia, Turkiye, and Azerbaijan.
His schedule also includes meetings with senior White House officials, members of the US Congress including the chairperson of the Financial Services Committee and representatives from the US State Department, Treasury Department and the International Development Finance Corporation.
He will also engage with the US-Pakistan Business Council to discuss investment opportunities and meet global credit rating agencies and commercial and investment banks, particularly those from the Middle East.
In addition to his other engagements, the finance minister is also expected to give interviews to selected international and US media outlets during the visit.
Business
PM Shehbaz announces reopening of new gas connections to domestic consumers
Prime Minister Shehbaz Sharif announced on Sunday the reopening of new gas connections after a ban of nearly four years, state broadcaster Radio Pakistan reported.
His announcement comes less than two months after the federal cabinet decided in September to lift the ban on domestic gas connections and supply regasified liquefied natural gas (RLNG).
Speaking about the cabinet’s decision in a post-meeting press conference, Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry, flanked by Petroleum Minister Ali Pervaiz Malik, had said PM Shehbaz decided to lift the ban on new gas connections imposed in 2021, addressing a longstanding public demand.
Addressing a ceremony related to the resumption of RLNG connections in Islamabad today, the premier reiterated that the government’s decision was in response to the “long-standing public demand”.
“In 2022, there was immense public pressure for [new] gas connections but the government was facing challenges,” Radio Pakistan quoted him as saying.
But, “with this landmark decision, the public will now be able to access affordable and quality fuel,” he added.
“Now, RLNG will be supplied throughout the country to a large number of applicants,” a report by state-run APP quoted him as saying.
According to the reports, a video message by Malik was also played during today’s ceremony, in which the petroleum minister said the government was committed to providing maximum facilities to the public.
He added that the Sui Northern Gas Company had brought down its line losses to 4.93 per cent while earning a profit of Rs29 billion in the previous fiscal year.
Business
Pakistan Engineering Development Board gets new chief
ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).
Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.
According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.
Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.
Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.
Published in Dawn, October 26th, 2025
Business
PPP reaffirms commitment to farmers
ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.
“PPP remains committed to respecting, empowering, and reviving the agricultural sector for a prosperous Pakistan,” said the party’s Central Information Secretary Shazia Marri. She quoted PPP Chairman Bilawal Bhutto-Zardari as saying that no economy can be strong if its farmers are weak.
“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.
Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.
She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.
Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.
She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.
Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.
Published in Dawn, October 26th, 2025
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