ISLAMABAD (Dunya News) – Pakistan has assumed the chairmanship of the Group of 24 (G24), with Finance Minister Muhammad Aurangzeb appointed as the group’s new chairman, in a move aimed at strengthening the voice of developing countries in the global financial system.
Speaking on the occasion, Aurangzeb said Pakistan would advocate for fair representation of developing countries in the international financial system and work towards a more equitable financial order.
He stressed the need to place development at the centre of global economic policies, saying the benefits of economic stability should translate into investment, employment opportunities and public prosperity.
The finance minister called for greater representation of developing countries in international financial institutions and a fair share for all countries in decision-making processes.
He also emphasised the need to provide developing nations with affordable and timely financial assistance, find sustainable solutions to debt-related challenges and take effective measures to address climate change.
Pakistan Assumes G-24 Chairmanship, Calls for a Stronger, More Inclusive and Development-Oriented Global Financial System Finance Minister Muhammad Aurangzeb outlines three priorities: development-led growth, stronger representation for developing economies and reform of international financial architecture Pakistan today assumed the Chairmanship of the Intergovernmental Group of Twenty-Four (G-24), reaffirming its commitment to strengthening the collective voice of developing economies and advancing a more responsive, fair and development-oriented international financial system. Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, described the Chairmanship as a profound responsibility, calling for renewed international cooperation, stronger multilateral institutions and reinforced global commitments to address climate shocks, development financing gaps and global economic fragmentation. "The future of developing economies is not peripheral to the future of the global economy. It is central to it," the Finance Minister stated, highlighting the immense potential of emerging and developing nations as drivers of investment, innovation, entrepreneurship and global growth. Outlining Pakistan's agenda, Senator Aurangzeb identified three strategic priorities for its Chairmanship: First, placing development at the centre of global economic policymaking. Macroeconomic stability must serve as a foundation for investment, productivity, employment and shared prosperity, enabling developing and low-income economies to move beyond crisis management towards sustainable growth. Second, strengthening multilateral frameworks for the collective benefit of members through more inclusive and representative institutions. Pakistan will advocate for more equitable and fair governance, meaningful participation in decision-making and greater responsiveness of the Bretton Woods institutions to the evolving needs and realities of their members. Third, advancing a development-oriented international financial architecture. Priorities will include affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, climate resilience and greater mobilisation of public and private capital. "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," Senator Aurangzeb emphasised. Drawing on Pakistan's own experience of economic stabilisation, reform and resilience, the Finance Minister underscored the importance of aligning financial stability with long-term development objectives, while ensuring that reforming economies have the necessary financing and policy space to pursue sustainable growth. He reaffirmed that Pakistan's Chairmanship would be guided by the G-24's longstanding principles of consultation, consensus and collective advocacy, working closely with members across Africa, Asia, Latin America and the Caribbean, alongside the IMF, World Bank and other international partners, to translate shared priorities into practical outcomes. Senator Aurangzeb also acknowledged Nigeria's leadership as outgoing Chair and expressed Pakistan's commitment to building on the Group's progress. The Finance Minister stressed that the effectiveness of collective leadership must be judged by tangible development outcomes. "The true measure of our collective leadership will not simply be the strength of our voice, but the difference that voice makes," he stated. He reaffirmed Pakistan's commitment to advancing the G-24's mission "from collective voice to collective influence, and from collective influence to meaningful progress."
— Ministry of Finance, Government of Pakistan (@Financegovpk) November 1, 2026Aurangzeb said Pakistan would work with the International Monetary Fund (IMF) and the World Bank during its G24 chairmanship. Increasing public and private investment in developing countries, supporting economic reforms and ensuring financial resources for sustainable development would also remain among the group's priorities.
He said the real measure of the G24's success would be improvements in the lives of people in developing countries, adding that Pakistan would play its role in turning their collective voice into practical action.
Meanwhile, Prime Minister Shehbaz Sharif welcomed Pakistan's appointment as chairman of the Intergovernmental Group of Twenty-Four (G24).
The prime minister said the development would further strengthen Pakistan's voice and role in global economic affairs.
He also praised Pakistan's effective participation in the annual meetings of the World Bank and the IMF, saying the achievement would enhance the country's representation at the international level.