{"id":32537,"date":"2024-07-26T21:09:45","date_gmt":"2024-07-26T21:09:45","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=32537"},"modified":"2024-07-26T21:21:06","modified_gmt":"2024-07-26T21:21:06","slug":"pakistani-finance-minister-briefs-chinese-institutions-on-reform-agenda-and-engagements-with-imf","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/pakistani-finance-minister-briefs-chinese-institutions-on-reform-agenda-and-engagements-with-imf\/","title":{"rendered":"Pakistani Finance Minister Briefs Chinese Institutions on Reform Agenda and Engagements with IMF"},"content":{"rendered":"<h5><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-32539\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/07\/China_Development_Bank-e1722027850914-1024x633.jpeg\" alt=\"\" width=\"696\" height=\"430\" \/><em><strong>Pak China Monitoring Desk<\/strong><\/em><\/h5>\n<h5>Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during a meeting with high-ranking officials from the Chinese institutions on Friday 26 July 2024, briefed them about the government\u2019s reform agenda and engagement with the International Monetary Fund (IMF).<\/h5>\n<h5>The finance minister and Minister for Power, Sardar Awais Ahmad Khan Leghari held meetings with Governor of People\u2019s Bank of China (PBoC), Pan Gongsheng,Vice Administrator National Energy Administration (NEA), Ren Jingong, Mr. Chen Liang, Chairman of China International Capital Corporation, Mr. Wang Weidong Vice President \uff0cChina Development Bank , Mr. Cao Yuanyuan Deputy Secretary-General of National Association of Financial Market Institutional Investors (NAFMII) at PBoC Headquarters in Beijing, today.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-32545 size-full\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/07\/Peoples_Bank_China-e1722028847423.jpeg\" alt=\"\" width=\"500\" height=\"172\" \/>Ambassador Khalil Hashmi and officials of the Embassy accompanied the ministers, according to a press release issued by finance ministry here.<\/h5>\n<h5>The discussions focused on the significant strides made by Pakistan in improving its macroeconomic indicators by focused reforms in taxation, energy and privatization of the state-owned enterprises.<\/h5>\n<h5>The reforms has already started showing their results, particularly, reducing inflation from 38% to 13% marks a substantial achievement for the economy.<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"nSwru2VGtS\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/pakistani-ministers-meet-finance-minister-china-and-president-of-sinosure-in-beijing\/\">Pakistani Ministers Meet Finance Minister China and President of SINOSURE in Beijing<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Pakistani Ministers Meet Finance Minister China and President of SINOSURE in Beijing&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/pakistani-ministers-meet-finance-minister-china-and-president-of-sinosure-in-beijing\/embed\/#?secret=8KdbPKn9X6#?secret=nSwru2VGtS\" data-secret=\"nSwru2VGtS\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h5>Additionally, the stabilization of the exchange rate and the bolstering of foreign exchange reserves were highlighted as key factors contributing to the economic upturn.<\/h5>\n<h5>There was consensus was that such reforms are indispensable for achieving long-term stability and fostering sustainable economic growth.<\/h5>\n<h5>The Governor&#8217;s recognition of Pakistan&#8217;s policy measures reflects a broader international perspective on the importance of economic resilience and the positive impact of prudent fiscal management, the statement added.<\/h5>\n<h5>Underlining Pakistan\u2019s plan to launch Panda Bonds, Minister for Finance briefed PBoC and other Financial Institutions about the steps taken so far and sought cooperation of the Chinese institutional investors in the capital market and seek benefit from the pro-business policies of the new Government.<\/h5>\n<h5 style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>Lauding President Xi Jinping\u2019s Belt and Road Initiative (BRI) both the Ministers noted the achievements during the first phase of the China-Pakistan Economic Corridor (CPEC), a flagship project of BRI, for strengthening the infrastructure in energy, transport sectors along with others.<\/strong><\/span><\/h5>\n<h5>It was highlighted that during the next phase of CPEC, focus is on strengthening B2B cooperation, with private sector playing the central role in the development and economic growth.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-32540\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/07\/NEA_China-1024x434.jpeg\" alt=\"\" width=\"696\" height=\"295\" \/><\/h5>\n<h5>Meanwhile, in a meeting with Vice Administrator NEA, Minister for Power expressed government\u2019s conviction to introduce energy reforms aimed at enhancing efficiency of power sector by addressing systemic issues and cutting transmission losses. He appreciated NEA for signing the MoU on improving governance of the Power Sector and expressed resolve to fast-track implementation of the agreement.<\/h5>\n<h5>The ministers also met Executive Vice President of China Development Bank (CDB), President of National Association of Financial Market Institutional Investors (NAFMII), Chairperson of Silk Road Fund (SRF), Chairman of China International Capital Corporation (CICC).<\/h5>\n<h5>On the instructions of the Prime Minister, the two ministers paid an official visit to Beijing from 24-26 July 2024 as part of the government\u2019s efforts to implement consensus reached at the leadership level during the former\u2019s recent visit to China.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-32541\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2024\/07\/China_International_Capital-1024x336.jpeg\" alt=\"\" width=\"696\" height=\"228\" \/><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>Pak China Monitoring Desk Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during a meeting with high-ranking officials from the Chinese institutions on Friday 26 July 2024, briefed them about the government\u2019s reform agenda and engagement with the International Monetary Fund (IMF). The finance minister and Minister for Power, Sardar Awais Ahmad Khan Leghari [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":32539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,24],"tags":[1839,1853,1791,1568,54,384,1438,685,472,319,5617,48,831],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/32537"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=32537"}],"version-history":[{"count":5,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/32537\/revisions"}],"predecessor-version":[{"id":32546,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/32537\/revisions\/32546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/32539"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=32537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=32537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=32537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}