Federal Minister for Finance and Revenue Muhammad Aurangzeb stepped into the role on November 1, 2026, as Pakistan officially took over the chairmanship of the Group of Twenty-Four (G-24) from Nigeria to lead the intergovernmental coalition of developing economies with a mandate to push for structural changes in international financial governance.
Pakistan Sets G-24 Agenda
Accepting the chairmanship, Aurangzeb outlined three core priorities for the bloc, which coordinates developing nations on international monetary and development finance issues. The agenda places development at the center of global policymaking, strengthens multilateral institutional frameworks, and builds a more responsive international financial architecture, as Associated Press Of Pakistan reported.
Established in 1971, the intergovernmental coalition brings together developing countries across Africa, Asia, Latin America, and the Caribbean to coordinate positions on international monetary and financial matters. Current membership stands at 28 nations, while China participates as a special invitee at sessions. During its tenure, Pakistan plans to collaborate closely with member nations, the International Monetary Fund, the World Bank, and other international partners to translate shared goals into practical outcomes.
The future of developing economies is not peripheral to the future of the global economy. It is central to it,
Finance Minister Muhammad Aurangzeb
Drawing on the country’s own path of economic stabilization and structural reform, the finance minister emphasized that macroeconomic stability must serve as a foundation for investment, employment, and shared prosperity. The platform allows emerging economies from Africa, Asia, Latin America, and the Caribbean to coordinate positions on issues involving the International Monetary Fund and the World Bank. Aurangzeb further stressed that the true measure of collective leadership must be evaluated by tangible development outcomes rather than rhetoric alone.
Leaders Praise Leadership Transition
Prime Minister Shehbaz Sharif hailed the leadership transition as an important diplomatic milestone
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The move will give Islamabad an influential platform to advocate for essential financial reforms and secure equitable financial assistance for climate change mitigation. President Asif Ali Zardari also congratulated the finance team.
He noted that the presidency provides an opportunity for the effective representation of developing countries in global economic affairs, according to Sabahnews.
The prime minister particularly commended the finance team for their professional expertise and proactive engagement during the annual meetings of the World Bank and IMF.
The Finance Division noted that Pakistan assumes the role.
The nation is attempting to consolidate its economic standing globally with the backing of a $7 billion loan program from the International Monetary Fund.
Technical Meetings Set for February
Building on these priorities, Aurangzeb held a virtual briefing with G-24 Secretariat Director Dr. Iyabo Masha to map out the forward work program. Discussions covered preparations for the upcoming G-24 Technical Group Meeting, which Pakistan is scheduled to host in February 2027.