ISLAMABAD, DEC 9: A high-level delegation of foreign investors and business leaders, met the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division. The delegation was hosted by Ambassador Ali Jehangir Siddiqui in Pakistan and included industry leaders from sectors such as technology, academia, and finance.
Notable attendees were Mr. Auren Hoffman, CEO of SafeGraph; Kristen Edwards Marqua of Hakluyt & Company; Michael Levi from The D.E. Shaw Group; and Dr. Jeff Chang, founder of Rad AI.
Ambassador Ali Jehangir Siddiqui provided an overview of the delegation, the purpose of their visit, and their engagements with various stakeholders in Pakistan. He emphasized that the delegation's visit highlighted the importance of fostering connections with diverse groups in Pakistan. Along with the minister, members of the adviser to the finance minister Khurram Shehzad and senior officials from the Finance Division and the Federal Board of Revenue participated in the meeting.
The finance minister welcomed the delegation and shared updates on Pakistan’s recent economic developments. He outlined key milestones, such as surplus fiscal and current accounts, foreign exchange reserves exceeding $12 billion, and a decline in inflation.
“Policy frameworks and continuity are the government’s responsibility, but the private sector must lead the economy. The government’s focus is on creating an enabling environment to support this transition,” stated Senator Aurangzeb.
He highlighted the challenges Pakistan faces, such as high population growth and climate change, which impact food security and socio-economic stability. “With a population growth rate exceeding 2pc, we face severe implications for food security, child stunting, and out-of-school children. Climate change exacerbates these vulnerabilities, making it imperative to secure financial and technical assistance to tackle these issues effectively,” he stated.
The question-and-answer session included a discussion on the government's decision to implement IMF conditions and structural reforms. “While we have significant work ahead, as long as we maintain commitment and momentum, and stay the course, we will achieve the desired outcomes," he assured.
The participants acknowledged the government's efforts to stabilize the economy. Areas of collaboration discussed included innovation, investment, and financial inclusion. The session, facilitated by Ambassador Ali Jehangir Siddiqui, concluded with a commitment to strengthening economic ties between Pakistan and the global business sector, identifying opportunities for growth and addressing shared challenges.