Pakistan’s Finance Minister, Muhammad Aurangzeb, announced that the country is aiming to secure around $1 billion in funding from a special program run by the International Monetary Fund (IMF). This program is meant to help countries deal with external financial challenges.
During an interview at the IMF/World Bank autumn meetings in Washington, Aurangzeb confirmed that Pakistan has officially made the request for this funding. Although the IMF had already agreed to a bailout package for Pakistan last month, this additional money would come from the IMF’s Resilience and Sustainability Trust, which supports countries facing economic shocks.
In addition to the IMF discussions, Pakistan is also talking with the Asian Infrastructure Investment Bank (AIIB) about getting support for a planned Panda bond issue worth between $200-250 million. Panda bonds are bonds sold in China by foreign governments or companies.
Aurangzeb also shared that the government is pushing ahead with its plans to privatize Pakistan International Airlines (PIA). The government aims to complete this process, along with outsourcing the operations of Islamabad’s international airport, by November.
These steps are part of Pakistan’s broader effort to stabilize its economy, attract more foreign investment, and manage its growing debt. The additional funding from international lenders and the privatization of key assets like PIA are expected to help ease financial pressures and improve the country’s overall economic outlook.
