Aurangzeb, UN officials discuss debt management, climate financing

In a key development, Finance Minister Muhammad Aurangzeb discussed the country’s debt management and restructuring with Mohammed Yahya, the United Nations Resident Coordinator at the Finance Division on Tuesday.

Yahya was accompanied by Abdullah Fadil, a UNICEF Representative. Afke Bootsman, Head of UN Resident Coordinator Office and Luay Shabaneh, UNFPA Representative were also present.

According to the statement, the meeting provided a platform for discussions on key issues including debt management, debt restructuring, climate financing, sustainable development goals (SDGs), and Pakistan’s transition to green energy.

During the meeting, Aurangzeb emphasized that Pakistan faces two major existential challenges: climate change and population growth.

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He reaffirmed Pakistan’s commitment to working with its development partners, including the United Nations, to achieve the SDGs and build a resilient, sustainable future for the country.

“No amount of economic stability and growth could be sustained without addressing these two critical issues,” he said.

Aurangzeb highlighted the importance of technical support from development partners in designing and implementing bankable and investable projects that would be properly monitored and reported as per international standards.

The finance minister also outlined Pakistan’s ongoing commitment to its partnership with the World Bank, particularly focusing on the two key areas of population management and learning poverty, which are part of the 10-year Country Partnership Framework signed between Pakistan and the World Bank.

He reiterated Pakistan’s determination to address these issues effectively with the necessary technical and financial support, read the statement.

Moreover, Aurangzeb provided an update on the country’s economic outlook, pointing to stability and improvements in several key economic indicators.

The former banker stressed that the private sector must play a central role in driving inclusive, durable, and sustainable growth in the long term.

“The meeting also explored avenues for enhanced climate financing and the scaling up of green energy initiatives to help Pakistan transition to a more sustainable energy future. Additionally, discussions were held on how to equip Pakistan’s youth with the necessary entrepreneurial skills to contribute to the economy’s long-term growth,” read the statement.

Aurangzeb highlighted the importance of technical and financial assistance from the international community to help Pakistan overcome its challenges.