ISLAMABAD: Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Sunday underscored that the two critical long-term challenges facing Pakistan were population growth and climate change.
The finance minister departed for the United States to participate in the World Bank Group–IMF Spring Meetings 2026, scheduled to be held in Washington, DC from April 13 to 18, 2026, where he is set to meet senior International Monetary Fund (IMF) leadership and discuss the country’s macroeconomic outlook, reform progress, and future cooperation on his Washington trip.
While participating in a high-level panel discussion at Harvard University, the finance minister emphasized that sustained economic progress would not be possible without addressing rapid population growth, and highlighted Pakistan’s increasing vulnerability to climate-related shocks and the need for greater focus on resilience and adaptation.
According to a statement issued on the Ministry of Finance’s X account, the finance minister acknowledged that further work was required in areas such as regulatory reform and ease of doing business, noting that these remain key priorities for improving the investment climate.
The minister reaffirmed the government’s commitment to structural reforms, including taxation, which has shown progress but remained below desired levels. He highlighted the ongoing transformation efforts within the Federal Board of Revenue, further emphasizing the need to move away from a model of perpetual subsidies for industry, advocating instead for competitiveness and export-led growth.
The minister also highlighted the trade liberalization measures, including tariff rationalization, aimed at encouraging efficiency and integration into global markets.
According to the finance minister, Pakistan’s solar generation had reached approximately 8,000 megawatts. He underscored the government’s ambition to significantly increase the share of renewables in the energy mix over the coming decade.
The session was moderated by former Governor of the State Bank of Pakistan, Dr Reza Baqir, and included panelists such as Princeton University's Professor Atif Mian and Nobel Laureate and Massachusetts Institute of Technology's Professor Daron Acemoglu.
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