{"id":1446,"date":"2024-10-28T05:43:48","date_gmt":"2024-10-28T05:43:48","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1446"},"modified":"2025-01-15T17:07:49","modified_gmt":"2025-01-15T17:07:49","slug":"visa-to-launch-new-card-in-pakistan","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1446","title":{"rendered":"VISA to Launch New Card in Pakistan to Boost Domestic Transactions"},"content":{"rendered":"\r\n

Washington, DC –<\/strong> On the final day of his visit to Washington, DC, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, wrapped up a series of strategic meetings with global financial leaders and institutions during the Annual Meetings of the World Bank Group and IMF. The Minister engaged in high-level discussions to bolster Pakistan\u2019s financial ecosystem, promote foreign investment, and strengthen bilateral economic ties.<\/p>\r\n\r\n\r\n\r\n

Meeting with Visa Regional President: Focus on Modernizing Payments and Financial Inclusion<\/h2>\r\n\r\n\r\n\r\n

Minister Aurangzeb met with Andrew Torre, Regional President for Visa, to discuss Visa\u2019s commitment to Pakistan\u2019s payments ecosystem. He expressed appreciation for Visa\u2019s role in supporting domestic players like 1Link and lauded the upcoming launch of the Financial Inclusion Card with Meezan Bank. Both leaders emphasized the importance of expanding routing choices and ensuring a level playing field for processing domestic transactions.<\/p>\r\n\r\n\r\n\r\n

Strengthening Pakistan-China Ties: Meeting with Chinese Vice Minister of Finance, Liao Min<\/h2>\r\n\r\n\r\n\r\n

In a meeting with China\u2019s Vice Minister of Finance, Liao Min, Finance Minister Aurangzeb reaffirmed the “all-weather strategic cooperative partnership” between Pakistan and China. He acknowledged China\u2019s unwavering support in Pakistan\u2019s socio-economic growth, including the securing of the IMF\u2019s Extended Fund Facility. The Minister highlighted the mutual interest in Chinese economic reforms, the launch of BYD electric vehicles in Pakistan, and plans for an inaugural Panda bond to diversify Pakistan\u2019s financing base. Both leaders underscored the need for online payment settlement and the integration of the two nations’ payment systems.<\/p>\r\n\r\n\r\n\r\n

Investment Opportunities with Natixis<\/h2>\r\n\r\n\r\n\r\n

The Minister also engaged in productive talks with Mohammad Kallala, Global Head of Corporate and Investment Banking at Natixis. Kallala outlined the bank\u2019s strong position in infrastructure, renewables, and technology sectors, as well as potential opportunities to partner with Gulf and Saudi investors to facilitate investments in Pakistan. Both sides agreed to maintain open channels for further collaborations.<\/p>\r\n\r\n\r\n\r\n

Google Meeting: Deepening Tech Investments in Pakistan<\/h2>\r\n\r\n\r\n\r\n

In discussions with Karan Bhatia, Vice President and Global Head of Government Affairs and Public Policy at Google, the Finance Minister reviewed Google\u2019s plans to expand its economic contributions in Pakistan. Bhatia raised regulatory and connectivity-related concerns, and the Minister assured full support to facilitate Google\u2019s activities and foster a conducive environment for tech innovation.<\/p>\r\n\r\n\r\n\r\n

Interaction with Pakistani-American Tech Entrepreneurs<\/h2>\r\n\r\n\r\n\r\n

During a session with Pakistani-American tech entrepreneurs, Minister Aurangzeb highlighted the burgeoning IT sector, noting Pakistan\u2019s global rank among the top five countries in freelancing. He emphasized the government\u2019s ongoing efforts to enable a digital ecosystem through comprehensive legislative, policy, and regulatory measures.<\/p>\r\n\r\n\r\n\r\n

Talks with the President of AIIB on Financing Initiatives and Climate Preparedness<\/h2>\r\n\r\n\r\n\r\n

Finance Minister Aurangzeb met with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), expressing gratitude for AIIB\u2019s assistance in post-flood recovery and ongoing projects in Pakistan. The Minister discussed Pakistan\u2019s interest in issuing a Panda bond with a partial credit guarantee from AIIB to diversify financing and boost investor confidence. The possibility of AIIB support for the N-5 (GT Road) reconstruction project and climate resilience program loans was also explored. Jin Liqun accepted an invitation to visit Pakistan, with dates to be decided.<\/p>\r\n\r\n\r\n\r\n

Engaging the Pakistani Diaspora and Media in Washington<\/h2>\r\n\r\n\r\n\r\n

Concluding his visit, Minister Aurangzeb met with leaders of the Pakistani diaspora in Washington, recognizing their valuable contributions to bolstering economic and investment ties with the United States. He also engaged with correspondents from Pakistani media outlets, briefing them on Pakistan\u2019s socio-economic developments and his engagements throughout the week.<\/p>\r\n\r\n\r\n\r\n

Minister Aurangzeb expressed satisfaction with the outcomes of his meetings and reiterated Pakistan\u2019s commitment to advancing reforms for economic growth and stability.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Washington, DC – On the final day of his visit to Washington, DC, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, wrapped up a series of strategic meetings with global financial leaders and institutions during the Annual Meetings of the World Bank Group and IMF. The Minister engaged in high-level discussions to bolster Pakistan’s financial […]<\/p>\n","protected":false},"author":1,"featured_media":1447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[7],"tags":[226,402,14,59,643],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t