Finance Minister Aurangzeb meets with US commerce secretary, participates in IMF panel – Business
Finance Minister Muhammad Aurangzeb has met with the United States’ commerce secretary to discuss ways to boost bilateral economic partnership and briefed an International Monetary Fund (IMF) official about the Middle East conflict’s economic impact on Pakistan, the finance ministry said on Wednesday.
Aurangzeb arrived in Washington on Monday to represent Pakistan at the World Bank Group and IMF Spring Meetings 2026. During his visit, the finance czar was expected to participate in over 50 high-level engagements from April 13 to 18.
In a series of posts on Wednesday, the finance ministry said that Aurangzeb has held multiple meetings, given an address and taken part in a panel discussion while there.
The finance minister met with US Secretary of Commerce Howard Lutnick in Washington, DC, where “both sides discussed avenues for deepening bilateral economic partnership, with a focus on enhancing trade, promoting investment flows, and facilitating private-sector engagement”.
The ministry added that they also discussed cooperation in key sectors such as mining, energy, and information technology, with an emphasis on “unlocking new opportunities for mutually beneficial economic collaboration”.
On the sidelines of the World Bank-IMF Spring Meetings, Aurangzeb also met IMF’s First Deputy Managing Director Dan Katz.
He briefed Katz on the immediate impact of the ongoing Middle East conflict on Pakistan’s economy and outlined the government’s policy response.
He welcomed the IMF mission’s expected visit next month for budget discussions, including deliberations on taxation matters.
He expressed gratitude for the IMF mission team’s “seamless handling of the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF)”, the ministry said.
The minister noted that a staff-level agreement had been successfully concluded and that approval by the IMF Executive Board was being awaited.
In addition, Aurangzeb “reaffirmed Pakistan’s unwavering commitment to the programme anchor, underscoring its role as a credible source of stability and market confidence in the face of the prevailing external shock”, according to his ministry.
Mideast war ‘one of the largest supply shocks in recent history’
Separately, the finance minister also participated in a panel discussion titled “MENAP Economies Navigating War: Managing Shocks and Shaping the Future”, organised by the IMF. MENAP is a regional grouping comprising the Middle East, North Africa, Afghanistan, and Pakistan.
Aurangzeb described the ongoing Middle East war as one of the largest supply shocks in recent history, comparable in scale to the demand shock experienced during Covid-19. He noted that the crisis has triggered a broader global conversation on energy security and supply chain resilience, according to the ministry.
“He elaborated on the first-order impact of the crisis on fuel availability and pricing, while outlining Pakistan’s ongoing scenario planning for potential second and third-order effects, including implications for inflation, remittances, exports, and capital flows,” it said.
The finance minister underscored that building strategic reserves remains a key takeaway from the current crisis. He stressed the importance of maintaining fiscal discipline supported by targeted delivery mechanisms, as well as the transformative role of technology in enhancing economic resilience.
Aurangzeb also addressed the “Roshan Digital Account (RDA) and Remittance Roadshow — Pakistan Diaspora Leaders’ Evening”, held at Pakistan’s embassy in Washington with the support of the State Bank of Pakistan (SBP) and the Pakistan Banks’ Association (PBA).
“The finance minister paid rich tribute to the invaluable contributions of the Pakistani diaspora to the country’s economic development, recognising overseas Pakistanis as a cornerstone of Pakistan’s external resilience,” the ministry said.
He underscored the continued commitment of the government to the RDA scheme, highlighting that no restrictions were placed on deposits in RDA accounts “even at the height of Pakistan’s balance of payments crisis”. He urged expatriates to invest in Pakistan’s economy through the RDA platform.
Previous meetings
Aurangzeb had previously met with World Bank Vice President Jorge Familiar Calderon in Washington on Monday, where he called for “enhanced technical support, advanced analytical tools, and specialised training for Pakistan’s Debt Management Office”.
At the Spring Meetings, the IMF, the WB Group and the International Energy Agency (IEA) have warned that the conflict has caused one of the most severe disruptions to global energy markets in modern history.
Against this backdrop, Aurangzeb’s meetings have centred on reform continuity, debt sustainability, social protection and private-sector-led growth.
He is is expected to participate in more than 50 high-level gatherings, taking place from April 13 to 18.
