Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the Fitch rating team in Washington, DC, on the sidelines of the International Monetary Fund World’s Bank Feather Meetings.

According to a press release released on Friday, the Finance Minister expressed gratitude for Fitch classifications for upgrading Pakistan’s sovereign credit rating from CCC+ to B and described it as a reflection of the country’s improvement in macroeconomic views and fiscal discipline. He explained that this positive revision would pave the way for Pakistan’s return to international financial markets.

During the meeting, Aurangzeb also updated the Fitch team about the government’s structural reform agenda, especially in energy, taxation, state-owned companies (SOEs), public economy and debt management. The commitment included detailed answers to Fitch’s queries on current customs reform, improvements in tax administration and broader revenue mobilization strategies.

On the same sidelines, the finance minister met with representatives from Moody’s, repeating the government’s obligation to a structural reform agenda aimed at ensuring that Pakistan is firmly on the field of long -term financial stability. He cited positive economic indicators, including low inflation, current and primary account surplus, exchange rate stability and record high transfer flow as evidence of Pakistan’s constant economic foot.

Aurangzeb highlighted an extensive tax reform initiative that is currently underway, with the aim of expanding and deepening the tax base through improved processes, technology integration and staff development. With regard to customs reforms, he expressed the government’s readiness to engage with the US administration constructively.

In another important commitment, the Finance Minister met with Jihad Azour, director of the Middle East and Central Asia of the International Monetary Fund (IMF). He repeated Pakistan’s obligation to keep the course on reforms and to build on the results in the last eighteen months.

According to the declaration, Aurangzeb described the credit rating upgrade of Fitch as an external validation of the success of the Reform program and a critical boost to the investor’s confidence in Pakistan’s financial track.

When we speak on the vulnerable 20 (V20) Ministerial Dialogue on “Activation of Climate Candes”, Aurangzeb also outlined Pakistan’s climate -financial strategy. He said the country was working on a climate level plan and had reached a staff agreement with the IMF on a new RSF event.