Finance Minister highlights IMF progress, reform agenda at Jefferies roundtable

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Apr, 2026) Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday underscored Pakistan’s progress under the International Monetary Fund (IMF) programme and ongoing structural reforms while engaging with institutional investors during a roundtable hosted by Jefferies International.

The roundtable held on the sidelines of the World Bank–IMF Spring Meetings 2026, where the minister briefed participants on Pakistan’s macroeconomic outlook and reform progress, said a news release.

He highlighted that Pakistan had reached a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) on the third review of the Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF), after successfully meeting all quantitative and structural benchmarks.

He noted that approval by the IMF Executive board was expected shortly, which would unlock the next tranche under the programme.

The minister also outlined the impact of the ongoing conflict in the middle East on Pakistan’s economy, particularly its first-order effects. He noted that the extent of second and third-order risks would depend on the duration and intensity of the conflict.

Senator Aurangzeb elaborated on the government’s policy response, including the introduction of fiscally-neutral targeted subsidies, rationalization of development expenditure, and broader federal austerity measures aimed at preserving the Primary surplus under the IMF programme.

On external financing, the minister informed investors that Pakistan is in the process of reviving its Global Medium-Term Note (GMTN) programme and has issued Requests for Proposals (RFPs) for the appointment of lead managers across multiple instruments, including Eurobonds, Sukuk, and dollar-settled rupee-linked bonds.

He also apprised participants of Pakistan’s planned inaugural Panda bond issuance, which is currently awaiting regulatory approvals.

The session concluded with an interactive question-and-answer segment, reflecting strong investor interest in Pakistan’s reform trajectory and economic outlook.

Meanwhile, Senator Aurangzeb also attended a luncheon hosted by the US-Pakistan business Council, where he interacted with representatives of U.S. companies operating in Pakistan.

During the session, the minister briefed participants on Pakistan’s macroeconomic outlook and reform progress.

He highlighted the Pakistan had secured IMF Staff-Level Agreement on third review of the EFF and second review of RSF, with IMF Executive Board approval expected shortly.

The minister also outlined the economic impact of the ongoing conflict in the Middle East, particularly in terms of energy procurement, pricing, and logistics. He elaborated on the government’s policy response, including measures focused on supply chain stabilization, demand management, and the provision of fiscally-neutral targeted subsidies.

Senator Aurangzeb highlighted emerging positive developments, including a significant surge in transshipment volumes through Karachi Port and record inflows under the Roshan Digital Account initiative.

On the domestic reform agenda, the minister underscored ongoing efforts to broaden the tax base, with a particular focus on bringing segments of the informal professional economy into the tax net through targeted Federal Board of Revenue (FBR) audits and sector-specific engagement.

The session concluded with an interactive question-and-answer segment, reflecting strong interest from participants in Pakistan’s economic trajectory and reform agenda.