ISLAMABAD: Pakistan assumed the chairmanship of the Group of 24 (G-24) on Sunday, with Finance Minister Muhammad Aurangzeb expressing the country’s resolve to strengthen the collective voice of developing economies and “advancing a more responsive, fair and development-oriented international financial system”.
The intergovernmental group is a coalition of developing countries established in 1971 to coordinate their positions on international monetary and financial issues, according to its website.
Mr Aurangzeb described its chairmanship as a “profound responsibility”, a handout issued by the Ministry of Finance stated, adding that he also called 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 statement quoted the finance minister as saying.
He further highlighted the “immense potential of emerging and developing nations as drivers of investment, innovation, entrepreneurship and global growth”.
Mr Aurangzeb outlined three strategic priorities for Pakistan under the G-24 chairmanship: placing development at the centre of global economic policymaking, strengthening multilateral frameworks, and advancing a development-oriented international financial architecture.
The finance minister emphasised aligning financial stability with long-term development objectives, drawing on Pakistan’s experience with economic stabilisation, reform and resilience.
He added that this would ensure that reforming economies have the necessary financing and policy space to pursue sustainable growth.
Mr Aurangzeb further stated that Pakistan’s tenure as the chair would be guided by “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.”
He acknowledged outgoing chair Nigeria’s leadership and pledged to build on the group’s progress. He emphasised the “effectiveness of collective leadership must be judged by tangible outcomes”.
“The true measure of our collective leadership will not simply be the strength of our voice, but the difference that voice makes,” the ministry quoted him as saying.
Mr Aurangzeb reaffirmed Pakistan’s commitment to advancing G-24’s mission “from collective voice to collective influence, and from collective influence to meaningful progress”.
President Asif Zardari hailed Pakistan’s assumption of the G24 chairmanship and congratulated Mr Aurangzeb and his team.
Prime Minister Shehbaz Sharif called it a significant milestone, expressing hope that it would provide Pakistan “an opportunity to play an influential role in advocating for necessary reforms within the global financial system, securing equitable financial support to address climate change and promoting sustainable development opportunities for emerging economies”.
Published in Dawn, November 2nd, 2026
