Reko Diq project: Aurangzeb agrees to achieve early financial closure

WASHINGTON: Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb, along with his team, commenced a busy schedule in Washington DC, where he has arrived to attend the annual meetings of the International Monetary Fund and the World Bank.

The finance minister began his official engagements Monday with meeting Riccardo Puliti, Regional Vice President, IFC for the Middle East, Central Asia, Türkiye, Afghanistan & Pakistan.

During the meeting, the minister highlighted strong macroeconomic indicators of the country.

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Senator Aurangzeb appreciated IFC’s partnership with Pakistan, its role in scaling up private sector investment including through multi-billion-dollar investments in support of the 10-year Country Partnership Framework (CPF). He agreed to achieve early financial closure of the IFC’s flagship RekoDiq project. He also welcomed the new regional set-up of IFC with a regional office in Islamabad.

Finance Minister Aurangzeb also held a productive meeting with Dr. Muhammad Sulaiman Al-Jasser, President, Islamic Development Bank (IsDB). The minister thanked the Bank for its longstanding assistance and support to Pakistan. He reviewed the current portfolio of the Bank projects in Pakistan and underscored the importance of faster project implementation.

Senator Aurangzeb thanked the President ISDB for IsDB board approval of financing of two sections of M-6. He said he looked forward to a continued cooperation in polio eradication efforts of Pakistan and Oil financing facility. Both sides agreed on the need to have a new Country Engagement Framework for Pakistan (CEF).

Copyright Business Recorder, 2025