ISLAMABAD, Oct 16 (APP): Federal Minister for Finance and Revenuem, Senator Muhammad Aurangzeb on Friday held separate meetings with Standard Chartered Bank (SCB) and UK Minister for International Development Kirsty McNeill on the sidelines of the World Bank Group–IMF Annual Meetings 2026 to discuss external financing, reserve management, infrastructure investment, economic reforms, bilateral cooperation, energy transition and climate resilience.
According to press release issued by finance ministry, the minister was accompanied by the Governor of the State Bank of Pakistan (SBP) in meeting with SCB, to discuss financing cooperation, reserve management and infrastructure investment.
He appreciated SCB’s support in bridging external financing gaps and facilitating Pakistan’s return to international capital markets and highlighted potential refinery upgrades and welcomed follow-up proposals through the relevant ministries.
Discussions covered prospective Sukuk, rupee-denominated, dollar-settled bonds, further Panda bonds and possible tokenization initiatives. Participants explored gold-backed liquidity and energy-price hedging, emphasizing simple structures and competitive costs.
The minister welcomed SCB’s proposed additional diaspora deposit products and financing against rupee-denominated securities or cash. The meeting also examined multilateral guarantees and export-credit financing for priority power transmission, railway and road projects.
Meanwhile, the minister also met UK Minister for International Development, Kirsty McNeill and highlighted fiscal consolidation, stronger reserves, sovereign rating upgrades and renewed access to international capital markets.
He emphasized export-led growth, tariff and tax reforms, and expanding IT exports and upskilling freelancers.
He appreciated UK assistance through REMIT and support for the Reforms for Growth programme.
The minister welcomed British International Investment’s growing investment pipeline. Discussions also covered privatization, airport outsourcing and aviation cooperation involving potential engagement with Airbus and Rolls-Royce.
Participants examined solar adoption, battery storage, grid viability and UK technical support for the energy transition. Both sides emphasized simpler climate finance access and bankable projects, with the Finance Minister highlighting disaster preparedness and the BRIDGE initiative.
Source: APP (Associated Press of Pakistan)
