Pakistan’s Finance Minister Muhammad Aurangzeb has reaffirmed the country’s commitment to strengthening the collective influence of the Group of 24 (G-24) and advancing the interests of developing economies.
According to a Finance Ministry statement issued on Tuesday, Aurangzeb made the remarks while serving as the G-24’s first vice-chair during a meeting of finance ministers and central bank governors held on the sidelines of the World Bank Group–International Monetary Fund (IMF) Annual Meetings in Bangkok, Thailand, on October 13, 2026.
As Pakistan prepares to assume the G-24 chair, the minister highlighted mounting economic pressures on developing countries and called for reforms to make the international financial system more representative, responsive and development-focused.
Aurangzeb Outlines Three Priorities for G-24
Aurangzeb identified several challenges facing developing economies, including disruptions to trade and investment caused by global fragmentation, climate-related shocks, restrictive financial conditions and widening financing gaps.
He stressed that the international financial architecture must evolve to address these challenges and provide timely assistance to countries undertaking difficult economic reforms while dealing with external shocks beyond their control.
The finance minister outlined three priorities for the G-24: restoring development as the central objective of the international financial system, making the Bretton Woods institutions more representative and responsive, and building a development-oriented international financial architecture.
He also emphasised cooperation among member countries and institutional partners to promote a more representative, resilient and development-centred global economic order.
Pakistan and Saudi Arabia Discuss Trade and Investment
On the sidelines of the annual meetings, Aurangzeb met Sultan Abdulrahman Al-Marshad, chief executive officer of the Saudi Fund for Development (SFD), to discuss bilateral economic cooperation.
During the meeting, the finance minister expressed condolences over recent loss of life in Saudi Arabia and thanked the Kingdom for its longstanding support to Pakistan.
He also highlighted Pakistan’s improving macroeconomic position and renewed access to international capital markets.
Discussions focused on expanding trade and investment, encouraging greater private-sector engagement, following up on the bilateral investment protection agreement and exploring opportunities for refinery upgrades.
Both sides reviewed progress on SFD-supported projects and stressed the importance of developing a new pipeline of projects. According to the Finance Ministry, the SFD reaffirmed its continued support for Pakistan within its mandate.
Government Plans National Population Council
Aurangzeb also called for coordinated national action to address Pakistan’s rapid population growth while speaking at a World Bank roundtable titled “Transforming Demographic Transition into Human Capital Gains and Job Creation” in Thailand.
The minister announced plans to establish a National Population Council led by the prime minister.
According to Aurangzeb, the proposed body would bring fragmented initiatives under a comprehensive framework through coordinated federal and provincial action, sustained political commitment and measurable targets.
He emphasised that population planning must be integrated with health, education and employment policies rather than treated as a separate issue.
The finance minister also highlighted women’s education and workforce participation as important priorities for managing the country’s demographic transition. He stressed the importance of engaging religious leaders to raise awareness about birth spacing.
Drawing on experiences from Indonesia, Bangladesh and Iran, Aurangzeb said Pakistan could learn from other countries’ approaches to population-related challenges and human development.
Finance Minister Calls for Reform of International Financial Architecture at G-24 Meeting, Reaffirms Pakistan’s Commitment as Incoming Chair
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, speaking in his capacity as First Vice-Chair of the G-24 at the Finance Ministers and Central Bank Governors’ Meeting, held on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand, highlighted the challenges facing developing economies, including fragmentation disrupting trade and investment, climate shocks eroding development gains, restrictive financial conditions and widening financing gaps.
He reaffirmed Pakistan’s commitment, as incoming Chair of the G-24, to strengthening the group’s collective influence and advancing the interests of developing economies.
He stressed that reform of the international financial architecture must keep pace with these challenges and called for timely support for countries undertaking difficult reforms while confronting external shocks beyond their control.
The Finance Minister outlined three priorities for the G-24 focused on restoring development as the central objective of the international financial system, making the Bretton Woods institutions more representative and responsive, and building a development-oriented international financial architecture.
Appreciating Nigeria’s leadership, he emphasized cooperation among members and institutional partners to advance a more representative, resilient and development-centred international economic order.
— Ministry of Finance, Government of Pakistan (@Financegovpk) October 13, 2026
Digital Skills and Private-Sector Growth Key to Job Creation
Aurangzeb said Pakistan’s ability to benefit from its demographic dividend would depend on developing a skilled workforce and supporting private-sector-led growth capable of creating employment opportunities.
He identified freelancing, information technology-enabled services and digital skills as areas with the potential to increase young people’s earnings and boost the country’s exports.
The minister called for an integrated policy approach linking population planning with investment in healthcare and education, alongside measures to expand employment opportunities.
He emphasised that coordinated action across these areas would be essential to improving human capital and ensuring that population growth translates into economic opportunities.
IFC Meeting Focuses on Investment and Job Creation
Separately, Aurangzeb met International Finance Corporation (IFC) Regional Vice President for the Middle East and Central Asia Imad Fakhoury in Bangkok.
According to a statement shared by the Finance Ministry on social media, the discussions focused on strengthening IFC support for private-sector-led growth and job creation, as well as translating macroeconomic stability into sustainable economic growth.
The meeting reviewed IFC’s expanding portfolio in Pakistan, small-business financing, entrepreneurship, capital markets, and green and digital bonds.
Both sides also discussed mining infrastructure and value addition, affordable housing and developer financing, and agricultural development through improved storage facilities, cold chains and electronic warehouse receipt financing.
Other areas of discussion included greater private-sector participation in livestock development and support for pharmaceutical exports through stronger regulatory standards and investment.
Infrastructure cooperation was also considered, particularly public-private partnerships in water services, advanced electricity metering and financing mechanisms for provincial projects.
Foreign firms showing interest in Pakistan as economy stabilises: Aurangzeb
Aurangzeb Reaffirms Commitment to Reko Diq Project
During his meeting with Fakhoury, the finance minister reaffirmed Pakistan’s commitment to the Reko Diq copper and gold mining project and appreciated the IFC’s financing leadership.
According to the IFC’s project description, Reko Diq involves the development of a greenfield open-pit mining operation with processing facilities designed to produce copper-gold concentrate.
The proposed infrastructure includes two open pits, a processing plant, low-grade ore stockpiles, waste rock dumps, a tailings storage facility, a heavy fuel oil power plant, a photovoltaic solar plant and other supporting facilities.
The IFC project description estimates annual copper production of 200,000 to 250,000 tonnes and an expected mine life exceeding 40 years.
It also outlines a potential expansion that could increase annual copper production to 400,000 tonnes, alongside the infrastructure required to support higher output.
The project is described by the IFC as one of the world’s largest undeveloped copper and gold deposits.
Aurangzeb’s discussions with the IFC covered investment and infrastructure opportunities as Pakistan seeks to strengthen private-sector participation and support sustainable economic growth.
The meetings in Thailand reflect the government’s focus on international financial cooperation, investment, employment generation and long-term development priorities.
