Pakistan and the United States have discussed opportunities to deepen financial cooperation, attract investment and facilitate financing for commercially viable projects, while Islamabad's request for $10 billion under the US Exchange Stabilisation Fund (ESF) remains unresolved.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with US Chargé d’Affaires to Pakistan Natalie Baker at the Finance Division to review Pakistan-US economic relations and explore avenues for strengthening bilateral economic cooperation.

According to the report, progress has been made on several areas of economic engagement, although Washington has so far remained reluctant to provide the $10 billion ESF support sought by Pakistan on the pattern of Argentina.

Pakistani officials are reportedly expecting that Washington could potentially consider around $2 billion to $2.5 billion following continued engagement, although no such commitment has yet been made.

During the meeting, Aurangzeb briefed the US Chargé d’Affaires on his recent visit to Washington, where he held discussions with the US Secretary of the Treasury, senior officials of the International Monetary Fund (IMF), the US International Development Finance Corporation (DFC) and the US Export-Import Bank (EXIM).

The finance minister highlighted opportunities to expand financial cooperation, encourage investment and develop financing arrangements for commercially viable projects in Pakistan.

The two sides also explored greater participation by US financial institutions, particularly the DFC, in Pakistan's investment landscape.

Aurangzeb stressed the importance of identifying specific investment-ready projects and developing suitable financing structures to encourage greater participation by US companies and financial institutions.

The finance minister also discussed Pakistan's recent engagement with the Office of the United States Trade Representative (USTR) regarding the Pakistan-US reciprocal trade framework.

He said considerable progress had been achieved in discussions and reiterated Pakistan's interest in advancing the framework on a mutually beneficial basis through greater market access, increased export opportunities and stronger bilateral trade.

Pakistan's engagement with international capital markets and efforts to diversify financing sources were also discussed.

Aurangzeb highlighted the government's focus on strengthening foreign exchange reserves, improving Pakistan's sovereign credit profile and accessing longer-term financing instruments to support economic stability and sustainable growth.

The meeting also covered investment opportunities across several sectors, including ports and logistics, energy, telecommunications, digital technology and artificial intelligence.

Baker acknowledged Pakistan's efforts to manage the economic consequences of the recent regional conflict, particularly the impact of higher energy prices, while maintaining economic and financial stability.

Aurangzeb briefed her on measures introduced to manage the evolving situation, including the daily petroleum price revision mechanism designed to align domestic fuel prices more closely with movements in international markets.

He reiterated the government's focus on fiscal discipline, stronger foreign exchange reserves, export promotion and sustainable economic growth.

Baker reaffirmed US support for Pakistan's economic reform agenda and expressed continued interest in strengthening bilateral trade, investment and economic cooperation, including greater participation by US companies in key sectors of Pakistan's economy.