US says will continue to support Pakistan’s economic development, reform

US Ambassador to Pakistan, Donald Blome, calls on Pakistan Prime Minister Shehbaz Sharif in Islamabad, Pakistan, on January 26, 2023. (Photo courtesy: PID)
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Updated 26 January 2023
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US says will continue to support Pakistan’s economic development, reform

  • PM Shehbaz Sharif expresses Pakistan’s resolve to deepen trade, economic ties with US
  • US Ambassador Donald Blome says Washington will continue support for Pakistan’s post-flood reconstruction

ISLAMABAD: Washington will continue to support Islamabad’s efforts for economic development and reform, US Ambassador to Pakistan Donald Blome said on Thursday after his meeting with Prime Minister Shehbaz Sharif. 

The US and Pakistan remained close allies during the Cold War, though their relationship mostly centered on their defense and security requirements.

However, their officials developed profound differences during the recent war in Afghanistan, making US authorities believe they were not getting the requisite support from Pakistan to deal with Taliban insurgents.

The relations between the two states hit a new low last year after the downfall of the administration of former prime minister Imran Khan who blamed his ouster on an “international conspiracy” hatched in Washington despite repeated denials by US officials.

Blome met Sharif to discuss Pakistan’s relief and reconstruction efforts following devastating floods that killed over 1,700 across the country and as per estimates, inflicted damages of over $30 billion. Islamabad has repeatedly urged the world to aid its efforts to rehabilitate flood affectees. 

“Ambassador Blome said that the United States would continue to support Pakistan’s post-flood recovery as well as the Government’s efforts for economic development and reform,” the Prime Minister’s Office (PMO) said in a statement. 

The PMO said Sharif acknowledged Washington’s support for Pakistan’s post-flood reconstruction and rehabilitation efforts. Pakistan’s prime minister expressed his country’s resolve to deepen economic and trade engagement with the US, it added.

“Noting the recent momentum in high-level bilateral exchanges, the Prime Minister stressed that structured and broad-based Pakistan-US engagement was critical to advancing both countries’ shared goals in both the bilateral and regional domains,” the PMO stated. 

In a statement earlier today, Thursday, Pakistan’s foreign office mentioned a new process of “reengagement” with the United States, saying the two countries were collaborating with each other in a number of areas.

“We are undertaking discussions on different issues including agriculture, climate change, investment, energy and other sectors and we also continue to discuss all issues of concern to both sides,” the foreign office spokesperson Mumtaz Zahra Baloch was quoted as saying by the Associated Press of Pakistan news agency. 

She was asked about a recent US statement that Pakistan could benefit from discounted Russian oil despite restrictions. Baloch added her country appreciated its close relations with the US and was in a process of “reengagement” with Washington.

Pakistan has been looking for external financing from friendly nations and international lending agencies amid a mounting current account deficit and depleting forex reserves, and its officials are widely believed to have asked for US assistance for the resumption of an International Monetary Fund (IMF) bailout package.

The IMF program requires Pakistan to implement strict economic reforms.


Dubai FinTech Summit to expand into Pakistan in partnership with Digital Authority

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Dubai FinTech Summit to expand into Pakistan in partnership with Digital Authority

  • First overseas edition of summit to be held August 18–19 in Pakistan
  • Event expected to draw over 10,000 participants, up to 150 sponsors

KARACHI: Dubai International Financial Center (DIFC) Innovation Hub said this week it will expand the Dubai FinTech Summit to Pakistan for the first time, partnering with the Pakistan Digital Authority (PDA) to host the event on August 18–19, 2026.

The move marks the first international expansion of the UAE-based summit and reflects growing financial and regulatory engagement between the two countries at a time when Pakistan is seeking to scale its digital economy and attract cross-border investment.

Pakistan has seen rising fintech activity over the past two years, with funding reaching $52.5 million in the first half of 2025 and 450 fintech companies collectively raising $391 million in venture capital by late November 2025, according to official data. However, the dominance of cash transactions and infrastructure constraints continue to limit sector-wide digital adoption.

“We are pleased to expand the Dubai FinTech Summit to Pakistan, a rapidly emerging FinTech hub,” Arif Amiri, Chief Executive Officer of DIFC Authority, was quoted as saying in a statement on Monday. 

He said the expansion aimed to strengthen cross-border innovation links between the UAE and South Asia and position Pakistan within the broader global financial technology ecosystem.

Organizers said the Pakistan FinTech Summit is expected to draw more than 10,000 participants and up to 150 sponsors and exhibitors, making it one of the largest financial innovation gatherings held in the country.

Pakistan’s Minister of IT and Telecommunication Shaza Fatima Khawaja said the decision showed international confidence in the country’s digital reform trajectory.

“DIFC’s decision to convene its flagship FinTech platform under the Pakistan brand is a strong signal of global trust in Pakistan’s emerging digital financial ecosystem,” she said.

The Dubai FinTech Summit has helped position Dubai as a top-four ranked global FinTech center under the Global Financial Centers Index, according to the statement. The Pakistan edition is expected to feature investment announcements, regulatory dialogue and startup showcases aimed at strengthening regional financial integration.

Established under the Digital Nation Pakistan Act 2025, the Pakistan Digital Authority serves as the country’s central body for digital policy, data and AI governance, and national digital infrastructure coordination.