KARACHI— Finance Minister Muhammad Aurangzeb said Pakistan has held “very constructive engagement” with the International Monetary Fund (IMF) and expressed confidence that outstanding issues are not “showstoppers,” with a staff-level agreement (SLA) expected early next week.
Aurangzeb made the remarks while addressing the Saudi investors’ delegation at the Overseas Chamber of Commerce and Industry in Karachi. He will depart for Washington to join the 2025 IMF and World Bank Annual Meetings from October 13 to 18, accompanied by the State Bank of Pakistan governor and finance secretary.
The IMF mission, led by Iva Petrova, visited Karachi and Islamabad from September 24 to October 8, 2025, conducting the second review under the 37-month Extended Fund Facility (EFF) and the first review under the 28-month Resilience and Sustainability Facility (RSF). The lender noted significant progress toward an SLA.
Aurangzeb said Pakistan has achieved macroeconomic stability, with three global rating agencies now aligned, and highlighted structural reforms in taxation and energy. He added that digitisation and documentation will be central to broadening the tax base, noting that while Pakistan’s recorded economy stands at $411 billion, nearly half remains undocumented.
The finance minister also discussed government assessments of recent flood damage and indicated potential external support following detailed post-damage evaluations.
He apprised the delegation of two major reform tracks personally led by Prime Minister Shehbaz Sharif on taxation reforms and the country’s digital transformation toward a cashless economy.
Aurangzeb welcomed Saudi investment partnerships and extended best wishes to Prince Mansour and the Saudi delegation, looking forward to future engagements at the Future Investment Initiative (FII) in Riyadh.
A day earlier, Sindh Chief Minister Syed Murad Ali Shah hosted Prince Mansour bin Mohammed Al Saud and a 30-member business delegation, during which two memorandums of understanding (MoUs) were signed. The first MoU covered the sale and purchase of shares in KES Power Ltd., and the second MoU was signed between K-Electric Limited and Trident Energy Ltd to explore strategic cooperation and investment in Pakistan’s power sector.
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