DAVOS: Federal Minister for Finance and Revenue Muhammad Aurangzeb held a series of high-level meetings in Davos on the sidelines of the World Economic Forum (WEF) Annual Meeting, focusing on advancing Pakistan’s economic reform agenda, strengthening international partnerships, and promoting investment-led growth.
The finance minister met Masato Kanda, President of the Asian Development Bank (ADB), to review Pakistan’s ongoing economic reforms and explore ways to further deepen the long-standing partnership between Pakistan and the Bank.
During the meeting, the ADB president observed that Pakistan was entering a crucial phase of economic transformation, marked by renewed reform momentum and improving market confidence. He highlighted ADB’s expanding engagement in Pakistan and reaffirmed the institution’s commitment to supporting the country through a close and forward-looking partnership.
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Senator Aurangzeb thanked ADB for its continued support and noted that Pakistan’s relationship with the Bank had entered a more strategic phase. He said the past year had seen a decisive shift toward macroeconomic stability, with positive trends continuing. The finance minister pointed to easing inflation, declining policy rates, stronger foreign exchange reserves, and improving investor sentiment as indicators of renewed confidence in Pakistan’s reform trajectory.
He also briefed the ADB president on progress in structural reforms, particularly the government’s focus on privatization and enhanced private sector participation. According to the finance minister, recent initiatives have attracted strong market interest and helped set important benchmarks, with more projects in the pipeline across multiple sectors. He underscored the importance of sustained collaboration with development partners to unlock Pakistan’s growth potential.
Discussions also covered reforms in the energy sector and efforts to promote sustainable and clean energy solutions. Both sides agreed to maintain close coordination to identify practical approaches that support inclusive and durable economic growth, with ADB reiterating its focus on private sector participation and timely delivery of development outcomes.
Earlier, the finance minister also met Hassan El Houry, Chairperson of Menzies Aviation, to discuss opportunities for enhanced cooperation in Pakistan’s aviation sector. Talks focused on improving airport services, operational efficiency, and exploring investment opportunities aligned with Pakistan’s privatization agenda.
Senator Aurangzeb briefed the Menzies Aviation chairperson on the government’s privatization plans, including progress related to Pakistan International Airlines, and outlined proposals to outsource operations at major airports in Islamabad, Karachi, and Lahore. He said improving economic indicators had created a more conducive environment for private sector investment.
Hassan El Houry shared insights into Menzies Aviation’s global operations and identified Pakistan as a promising destination for aviation-related investment. He highlighted Sialkot’s strategic importance in aviation and logistics and expressed interest in expanding the company’s engagement in Pakistan. Both sides also discussed measures to enhance airport service quality and improve passenger experience.
The meetings concluded on a positive note, with all sides reaffirming their commitment to strengthening cooperation, deepening partnerships, and advancing mutually beneficial economic and investment initiatives to support Pakistan’s sustainable growth and development.
