PM and US Ambassador Discuss Economic Reforms

The new government in Pakistan, led by Prime Minister Shehbaz Sharif, has initiated efforts to address the country’s economic challenges by seeking a new loan. In a meeting with US Ambassador Donald Blome, Prime Minister Sharif discussed economic reforms through the International Monetary Fund (IMF) and other key issues.

The premier expressed satisfaction with the current state of bilateral relations between Pakistan and the United States and emphasized the importance of maintaining positive momentum in various sectors such as trade, investment, energy, and defense.

Premier Shehbaz highlighted the government’s focus on macroeconomic reforms to stabilize the economy and attract foreign investment, including the establishment of the Special Investment Facilitation Council (SIFC) to fast-track foreign investments.

The meeting also addressed bilateral and regional issues, including the situation in Gaza, developments in Afghanistan, and the case of Dr. Aafia Siddiqui. Ambassador Blome reaffirmed the United States’ commitment to partnering with Pakistan and supporting its democracy, independent press, and efforts to address climate change.

Discussions also revolved around accelerating projects under the US-Pakistan Green Alliance framework. This meeting coincided with Pakistan’s negotiation phase with the IMF for the final review meeting on a $3 billion stand-by agreement (SBA).

The country has expressed its intention for a fresh loan from the IMF to stabilize its economy, with Finance Minister Muhammad Aurangzeb planning to explore various options, including climate financing and increasing the size of the allocated quota under the Extended Fund Facility (EFF) program, during the negotiations.