WEF Davos
Islamabad
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Tuesday held a series of important meetings on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, focusing on advancing Pakistan’s economic reform agenda, strengthening international partnerships, and promoting investment-led growth.
The Finance Minister met Mr. Masato Kanda, President of the Asian Development Bank (ADB), to review Pakistan’s ongoing economic reforms and discuss ways to further deepen the long-standing partnership between Pakistan and ADB. The ADB President noted that Pakistan was entering a significant phase of economic transformation, marked by renewed reform momentum and growing market confidence, and reaffirmed ADB’s strong commitment to supporting Pakistan.
Senator Muhammad Aurangzeb thanked ADB for its continued support, stating that Pakistan’s relationship with the Bank had entered a new and more strategic phase. He highlighted that the past year witnessed a decisive shift toward macroeconomic stability, with improvements in key indicators including easing inflation, declining policy rates, strengthening foreign exchange reserves, and improved investor sentiment.
The Finance Minister also briefed the ADB President on progress in structural reforms, particularly the renewed focus on privatization and private sector participation, noting strong market interest and additional projects in the pipeline. Discussions further covered reforms in the energy sector, including efforts to modernize systems, improve efficiency, and promote sustainable and clean energy solutions, with both sides agreeing to maintain close coordination for inclusive and durable growth.
Earlier, Senator Muhammad Aurangzeb met Mr. Hassan El Houry, Chairperson of Menzies Aviation, to explore opportunities for enhancing cooperation in the aviation sector. Discussions focused on improving airport services, operational efficiency, and investment opportunities aligned with Pakistan’s reform and privatization agenda.
The Finance Minister briefed Mr. El Houry on the government’s privatization plans, including progress related to Pakistan International Airlines (PIA) and the outsourcing of operations at major airports in Islamabad, Karachi, and Lahore. He said Pakistan’s improving economic outlook was creating a conducive environment for private sector investment and international partnerships.
Mr. El Houry highlighted Menzies Aviation’s global experience and identified Pakistan as a promising destination for aviation-related investment, underscoring Sialkot’s strategic importance in aviation and logistics. He expressed interest in expanding engagement with Pakistan and discussed measures to enhance airport service quality and passenger experience.
