Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held detailed talks with Asian Development Bank (ADB) President Masato Kanda in Davos on the sidelines of the World Economic Forum on Wednesday.

The meeting focused on Pakistan’s economic reform agenda, macroeconomic stabilization, and strengthening the long-standing development partnership between Pakistan and the Asian Development Bank.

The finance minister highlighted Pakistan’s improving economic indicators, including declining inflation, easing policy rates, strengthening foreign exchange reserves, and growing investor confidence.

He briefed the ADB president on progress in structural reforms, particularly privatization and private sector participation, and emphasized the government’s commitment to sustaining reform momentum under the Prime Minister’s leadership.

Both sides discussed cooperation in key areas including energy sector reforms, sustainable development, and access to international capital markets.

The ADB president welcomed Pakistan’s progress, expressed confidence in the country’s economic direction, and reaffirmed ADB’s strong commitment to supporting Pakistan through continued engagement, faster delivery, and close coordination.

Meeting with Menzies Aviation chief

Senator Aurangzeb also held talks with Hassan El Houry, Chairperson of Menzies Aviation, in Davos to discuss opportunities for enhancing cooperation in Pakistan’s aviation sector.

The finance minister shared the government’s reform and privatization agenda, including progress related to Pakistan International Airlines (PIA) and plans to outsource operations at major airports in Islamabad, Karachi, and Lahore.

He noted that Pakistan’s economy is moving in a positive direction, creating a conducive environment for private sector investment and international partnerships.

Hassan El Houry briefed the minister on Menzies Aviation’s global operations and experience in airport services worldwide, and identified Pakistan as a promising destination for aviation-related investment.

He highlighted Sialkot’s strategic importance in aviation and logistics and expressed interest in expanding Menzies Aviation’s engagement in Pakistan.

Both sides also discussed ways to improve airport service quality, operational efficiency, and passenger experience.