KARACHI: Pakistan has sought greater US support to strengthen its foreign exchange reserves and improve access to international capital markets, according to an official statement issued after Finance Minister Muhammad Aurangzeb met US Treasury Secretary Scott Bessent in Washington on Tuesday.
The meeting took place amid reports by Reuters that Pakistan had requested a $10 billion exchange stabilization facility from the United States. However, the Finance Division did not comment directly on the report.
Instead, the ministry said Aurangzeb emphasized the need for increased US support to help Pakistan expand access to global capital markets, rebuild foreign exchange reserves, and improve its sovereign credit rating.
Pakistan is looking to deepen economic engagement with Washington as it continues its recovery under a $7 billion International Monetary Fund (IMF) programme. While the country has achieved a degree of macroeconomic stability, it remains dependent on external financing and exposed to regional geopolitical risks that could impact energy supplies and global markets.
During the meeting, Aurangzeb highlighted Pakistan’s transition from macroeconomic stabilization toward sustainable, export-led economic growth, while acknowledging that regional geopolitical developments continue to pose risks to the country’s economic outlook.
Both sides reaffirmed their commitment to strengthening bilateral economic cooperation, encouraging greater US investment, and advancing strategic development initiatives.
Separately, the finance minister met officials of the US International Development Finance Corporation (DFC), where he sought faster support for private sector-led projects in key sectors, including energy, information technology, infrastructure, mining, food, and agriculture.
According to the Finance Division, Aurangzeb said the DFC’s focus on ports, telecommunications, IT, energy, minerals, pharmaceuticals, manufacturing, and supply-chain development aligns closely with Pakistan’s development priorities.
He also invited a DFC delegation to visit Pakistan to identify bankable investment opportunities and work with relevant stakeholders on developing viable business plans.
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The discussions further explored the possibility of establishing a DFC presence in Pakistan and facilitating engagement with future US congressional delegations.
