Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has described the ongoing crisis in the Middle East as one of the most significant supply shocks in recent history.
He expressed these views while participating in a high-level meeting in Washington DC, convened by the Managing Director of the International Monetary Fund with Finance Ministers, Central Bank Governors, and heads of regional financial institutions from the Middle East, North Africa, Afghanistan, and Pakistan region, on the sidelines of the World Bank-IMF Spring Meetings.
The Finance Minister highlighted Pakistan’s commitment to gradually shift from broad-based subsidies to well-targeted support mechanisms aimed at protecting the most vulnerable segments of society.
Earlier, addressing the fifteenth Ministerial Meeting of the Coalition of Finance Ministers for Climate Action at the World Bank-IMF Spring Meetings, the Finance Minister expressed appreciation to Pakistan’s international partners for their continued support in advancing climate finance initiatives that enhance the country’s evolving climate resilience.
