US Deputy Assistant Secretary Calls on Finance Minister, Discusses Economic Reforms
Islamabad: US Deputy Assistant Secretary for South and Central Asian Affairs John Mark Pomerleau, accompanied by Natalie A. Baker, Chargé d’Affaires of the United States to Pakistan, called on the Federal Minister for Finance and Revenue at the Ministry of Finance on Wednesday to discuss Pakistan’s economic outlook and avenues for enhanced bilateral cooperation.
The Finance Minister welcomed the US delegation and appreciated the United States’ longstanding support and engagement in Pakistan’s economic development, particularly within multilateral financial frameworks. Focus on Macroeconomic Stability and Reform Agenda During the meeting, both sides exchanged views on Pakistan’s evolving economic landscape, reform priorities, and opportunities to deepen bilateral economic ties.
The Finance Minister briefed the delegation on Pakistan’s macroeconomic stabilization efforts and reform progress, highlighting the government’s transition toward sustainable, export-led growth. He noted that the fiscal deficit has narrowed, the current account has improved supported by increased remittances and IT exports—and credit rating indicators have shown positive movement.
He reaffirmed the government’s commitment to strengthening fiscal discipline, ensuring external stability, and accelerating structural reforms aimed at achieving long-term economic resilience. The Minister also emphasized ongoing reforms in state-owned enterprises (SOEs) and efforts to rationalize the public sector to enhance efficiency and reduce fiscal risks.
Growing Investor Confidence and Capital Market Plans Highlighting rising investor confidence, the Finance Minister pointed to recent domestic investment initiatives and increasing private sector participation in key sectors of the economy. He also briefed the US delegation on Pakistan’s plans to re-enter international capital markets, including the issuance of Panda Bonds as part of a broader strategy to diversify financing sources. Privatization and Business Climate Reforms On privatization, the Finance Minister reiterated the government’s resolve to move forward at an accelerated pace.
He stated that the privatization process is gaining momentum, with transactions in the banking and power distribution sectors underway, as well as the outsourcing of major airports beginning with Islamabad. He noted that these developments underscore the government’s firm commitment to reforms and enhanced private sector engagement. US Reaffirms Support for a Stable and Prosperous Pakistan Deputy Assistant Secretary John Mark Pomerleau appreciated Pakistan’s efforts toward fiscal stability and welcomed improvements in key economic indicators.
He stated that the United States values a stable and prosperous Pakistan and views improving the investment climate as a shared priority. He added that American businesses are closely monitoring reform progress and that policy consistency will further strengthen trade and investment ties between the two countries. The Finance Minister reaffirmed Pakistan’s commitment to facilitating foreign investment and maintaining regular engagement with the US business community, including the US Chamber of Commerce and the American Business Council. The meeting concluded with both sides expressing confidence in the continued strengthening of Pakistan-US economic relations.
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