FM, Aurangzeb anticipates receiving over 1 billion dollars from the IMF in climate finance
Finance Minister Muhammad Aurangzeb shared optimistic news for Pakistan’s climate finance prospects, revealing that the country is likely to receive between $1 billion and $1.5 billion from the International Monetary Fund (IMF). The minister announced that an IMF mission would be visiting Pakistan on February 24 to discuss the climate fund, with a second review mission scheduled for March.
Minister Aurangzeb emphasized that Pakistan has been diligently meeting all of the IMF’s conditions, citing a current account surplus for seven out of the past eight months. He also noted the importance of structural reforms to drive long-term improvements in the country’s economy.
Earlier, during a speech at an event hosted by the Pakistan Retail Business Council in Islamabad, the finance minister expressed confidence in Pakistan’s economic direction, highlighting the achievement of macroeconomic stability. He called for deep structural reforms to break the cycle of boom and bust and to foster sustainable, inclusive growth. Key areas of reform, including energy, taxation, and public finance, are already in progress.
Aurangzeb emphasized that real transformation in taxation is underway, particularly through the use of modern technology to increase transparency and address existing loopholes. He stressed the need to restore public trust in the tax system and stated that reliance on taxing the salaried class is not a sustainable approach. The finance minister called on other sectors—such as retail, wholesale, real estate, and agriculture—to step up and contribute their fair share to the tax system.
The minister also touched on efforts to reduce government expenditures, with provincial governments working on agricultural taxes. In addition, he noted that the recent reduction in the policy rate would benefit both investors and the broader business community, while reinforcing that the country can no longer afford to offer unnecessary privileges.
