During a high-level meeting between Assistant Secretary Donald Lu of the US State Department and Finance Minister Muhammad Aurangzeb, Pakistan’s reform program was discussed.
The two leaders discussed privatization, simplifying the energy sector, and expanding the tax base during their meeting on Wednesday at the World Bank’s Washington headquarters.
Ambassador Lu underlined Washington’s commitment to strengthening connections between the US and Pakistan during the meeting, accompanied by Elizabeth Horst, Principal Deputy Assistant Secretary of the State Department.
Aurangzeb has been holding informal discussions with US senior officials while he is in Washington for talks with the World Bank and the International Monetary Fund (IMF) over a potential fresh bailout package.
The US official and Aurangzeb concentrated on enhancing economic ties, with a particular focus on the IT sector, agriculture, climate resilience, and alternative energy.
The minister from Pakistan saw prospects for US investment in information technology, renewable energy, agriculture, and mineral exploitation.
In order to promote mutual growth, he also promised tight cooperation with Exim Bank and the US International growth Finance Corporation.
Scott Nathan, the head of the US International Development Finance Corporation (USIDFC), stated at a separate meeting that Washington has financial, clean energy, and flood relief investments in Pakistan.
