Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with a delegation from S&P Global Ratings to discuss Pakistan's sovereign credit profile, macroeconomic outlook, and the progress achieved under the government's ongoing economic reform programme.

The S&P delegation included Yee Farn Phua, Director of Sovereign Ratings, and Giulia Filocca, Associate Director of Sovereign Ratings. Discussions focused on Pakistan's economic performance, fiscal outlook, debt sustainability, and structural reforms aimed at strengthening the country's credit fundamentals.

During the meeting, the finance minister highlighted the significant improvement in Pakistan's macroeconomic indicators, citing stronger economic growth, continued fiscal consolidation, enhanced debt sustainability, and a more resilient external sector. He noted that the FY2026-27 Federal Budget was designed to support economic growth while maintaining fiscal discipline.

Aurangzeb stated that prudent economic management, consistent policy implementation, and structural reforms have contributed to lower inflation, higher foreign exchange reserves, improved external account stability, and growing investor confidence despite regional and global economic challenges.

The minister also emphasized improvements in Pakistan's public debt profile, pointing to the continued decline in the debt-to-GDP ratio, the slowest pace of central government debt growth in nearly 15 years, and active debt management initiatives, including liability management operations, debt buybacks, and the extension of domestic debt maturities.

He further highlighted historically lower fiscal deficits and record primary surpluses, attributing these achievements to stronger revenue mobilisation and disciplined public expenditure management.

According to the finance minister, the government's ongoing reforms are reinforcing fiscal sustainability, improving macroeconomic stability, and strengthening Pakistan's sovereign credit profile, laying the foundation for sustainable long-term economic growth and enhanced investor confidence.