WASHINGTON: Minister for Finance and Revenue Senator Muhammad Aurangzeb reviewed the progress on the Diversified Payment Rights (DPR) initiative during a meeting with Hela Cheikhrouhou, Regional Vice President of the International Finance Corporation (IFC), and her team in Washington.
The two sides discussed deepening collaboration in critical areas including private sector reforms, energy transition, sound municipal finance, and initiatives aimed at achieving full employment in Pakistan.
Senator Aurangzeb appreciated IFC’s leading role in arranging $2.5 billion in debt financing for the Reko Diq Copper and Gold Mine Project in Balochistan.
He stressed the importance of ensuring that the benefits of the landmark project directly reach the local communities in the region.
The meeting reaffirmed the shared commitment of the Government of Pakistan and IFC to work together for sustainable economic growth and inclusive development.
Meeting with US assistant secretary of treasury
Minister Aurangzeb met Robert Kaproth, Assistant Secretary at the U.S. Department of Treasury, on the sidelines of the World Bank/IMF spring meetings and discussed the role of microfinance in fostering financial inclusion and empowering low-income segments of society in Pakistan.
The minister highlighted the government’s initiatives to strengthen microfinance institutions and expand digital access to financial services, particularly for women and small entrepreneurs.
Senator Aurangzeb provided an overview of Pakistan’s broader macroeconomic outlook and reform agenda. He briefed Mr. Kaproth on progress in key areas including tax policy, energy sector reforms, privatization efforts, restructuring of state-owned enterprises (SOEs), pension reform, and debt sustainability.
The minister also stressed the critical role of the World Bank’s Country Partnership Framework (CPF) in addressing Pakistan’s long-term development challenges, especially those related to population growth and climate change.
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