Karachi | Tuesday, 3 November 2026:
Pakistan Banks Association (PBA) welcomes Pakistan’s Chairmanship of the Intergovernmental Group of Twenty-Four (G-24), effective 1 November 2026, under the leadership of Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue. The Association views this as a significant opportunity for Pakistan to shape global financial policy, strengthening the representation of developing economies and advancing a more inclusive and equitable international financial system.
Pakistan’s Chairmanship will focus on three strategic priorities: placing development at the heart of global economic policymaking; strengthening the voice and participation of developing economies in multilateral institutions; and advocating reforms to the international financial architecture to better address their evolving financing and development needs.
“The future of developing economies is not peripheral to the future of the global economy. It is central to it,” said Senator Muhammad Aurangzeb. “Our task is to ensure that the immense potential of developing economies is not constrained by an international financial architecture that has yet to fully adapt to a changing world.”
The Finance Minister underscored the importance of translating macroeconomic stability into sustainable investment, productivity, employment and shared prosperity. Pakistan’s Chairmanship will advocate more equitable global financial governance, meaningful participation in international decision-making and greater responsiveness from the Bretton Woods institutions to the development priorities of member countries.
PBA notes that the priorities of Pakistan’s Chairmanship are closely aligned with the financing challenges facing developing economies, including access to affordable capital, sustainable debt solutions, climate resilience and the mobilisation of private sector investment. Addressing these challenges requires stronger multilateral cooperation and financing solutions that enable developing economies to invest in long-term growth while managing external economic and climate-related vulnerabilities.
Commenting on the development, Zafar Masud, Chairman, PBA, said, “Pakistan’s G-24 Chairmanship presents an important opportunity to strengthen the link between global financial cooperation and development outcomes. For the banking sector, the priority is to translate greater access to development finance into productive investment, enterprise growth and economic resilience. We support the Government’s efforts to advance a more inclusive and responsive global financing system and stand ready to contribute through stronger engagement with multilateral development institutions and international partners.”
PBA congratulates the Government of Pakistan on taking up this important leadership role and extends its best wishes for a successful tenure that advances meaningful reforms, inclusive growth and greater cooperation among developing economies.