Pakistan assumes G-24 chairmanship, pledges push for global financial reforms

Pakistan took over the chair of the Intergovernmental Group of Twenty-Four (G-24) on November 1, with Finance Minister Muhammad Aurangzeb setting out priorities around development-led growth, stronger developing-country representation and changes to global financial arrangements. The Express Tribune reported that the finance ministry announced the handover, while Prime Minister Shehbaz Sharif separately welcomed it as an important diplomatic milestone.

Aurangzeb said Pakistan would press for development to feature more centrally in economic policymaking and for greater participation in multilateral decision-making. He also identified affordable development finance, sustainable debt solutions, stronger financial safety nets and climate resilience as areas for collective action. Pakistan plans to work with G-24 members, the IMF, the World Bank and other partners during its chairmanship.

For investors, the appointment places Pakistan in a forum advocating financing and governance changes relevant to developing economies, although the report describes priorities rather than any specific policy decision or funding commitment.