G24 Chairmanship: Pakistan takes leadership role as Muhammad Aurangzeb appointed chairman

Pakistan has taken over the chairmanship of the Intergovernmental Group of Twenty-Four (G24), with Finance Minister Muhammad Aurangzeb appointed as the group’s new chairman.

Speaking on the occasion, Aurangzeb said Pakistan would work to strengthen the voice of developing countries in the global financial system and promote a more equitable international financial order.

He stressed that development should remain central to global economic policies, adding that the benefits of economic stability must translate into investment, employment opportunities and improved public prosperity.

The finance minister called for greater representation of developing countries in international financial institutions and a fairer role for them in global decision-making.

He also highlighted the need for affordable and timely financial assistance, sustainable solutions to debt-related challenges and effective measures to address climate change.

Aurangzeb said Pakistan would work with the International Monetary Fund (IMF) and the World Bank during its G24 chairmanship. The group’s priorities would also include encouraging public and private investment in developing economies, supporting economic reforms and securing financing for sustainable development.

He said the success of the G24 should ultimately be measured by improvements in the lives of people across developing countries. Pakistan, he added, would work to turn their collective voice into practical action.

Prime Minister Shehbaz Sharif welcomed Pakistan’s appointment, saying the development would strengthen the country’s voice and role in global economic affairs.

He also praised Pakistan’s participation in the annual meetings of the World Bank and the IMF, saying the new responsibility would enhance the country’s representation at the international level.