DAVOS 26: Aurangzeb holds key meetings with ADB president, aviation sector leader

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of important meetings in Davos on the sidelines of the World Economic Forum Annual Meeting, focusing on advancing Pakistan’s economic reform agenda, strengthening international partnerships, and promoting investment-led growth.

The minister met with Masato Kanda, President of the Asian Development Bank, to review Pakistan’s ongoing economic reforms and discuss ways to further deepen the long-standing partnership between Pakistan and ADB. During the meeting, the ADB president noted that Pakistan was entering a significant phase of economic transformation, with renewed momentum in reforms and growing confidence in the market.

He highlighted ADB’s strong and expanding engagement in Pakistan and expressed optimism about the country’s economic direction, underscoring ADB’s commitment to supporting Pakistan through a close and forward-looking partnership.Senator Muhammad Aurangzeb thanked the ADB president for his continued support and guidance, noting that Pakistan’s relationship with ADB had entered a new and more strategic phase.

He shared that the past year marked a decisive shift toward macroeconomic stability, with this positive trajectory continuing.

The Finance Minister highlighted improvements across key economic indicators, including easing inflation, declining policy rates, strengthening foreign exchange reserves, and improving investor sentiment, all reflecting renewed confidence in Pakistan’s reform path.

The finance minister briefed the ADB president on progress in structural reforms, particularly the government’s renewed focus on privatisation and private sector participation.

He noted that recent initiatives had generated strong market interest and helped establish important benchmarks, with additional projects in the pipeline across multiple sectors. Senator Muhammad Aurangzeb emphasised the importance of continued collaboration with development partners, including ADB, to support these reforms and unlock Pakistan’s growth potential.

Discussions also covered efforts to modernise Pakistan’s energy sector and advance sustainable and clean energy solutions. The finance minister highlighted ongoing reforms aimed at improving efficiency, strengthening systems, and supporting long-term economic sustainability.

Both sides agreed to maintain close coordination to identify practical solutions that support inclusive and durable growth.

The ADB President reaffirmed the bank’s commitment to Pakistan and emphasised the importance of private sector participation, noting ADB’s focus on ensuring timely and effective delivery of development outcomes.

Earlier, the Federal Minister for Finance and Revenue also met with Hassan El Houry, Chairperson of Menzies Aviation, to discuss opportunities for enhancing cooperation in the aviation sector.

The meeting focused on improving airport services, operational efficiency, and exploring investment opportunities aligned with Pakistan’s reform and privatisation agenda.

Senator Muhammad Aurangzeb briefed El Houry on the government’s privatisation plans, including progress related to Pakistan International Airlines, and outlined plans to outsource operations at major airports, including Islamabad, Karachi, and Lahore. He noted that Pakistan’s economy was moving in a positive direction, creating a conducive environment for private sector investment and international partnerships.

Hassan El Houry briefed the finance minister on Menzies Aviation’s global operations and experience in delivering aviation services worldwide.

He identified Pakistan as a promising destination for aviation-related business and investment, highlighted Sialkot’s strategic importance in aviation and logistics, and expressed Menzies Aviation’s interest in continuing and expanding its engagement with Pakistan. Both sides also discussed ways to enhance airport service quality and improve the overall passenger experience.

Copyright Business Recorder, 2026