ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Wednesday re-emphasized initiatives aimed at enhancing economic stability and promoting long-term growth.
In a meeting with Ambassador of Finland to Pakistan Hanna Ripatti, who called on him, the minister shared an update on Pakistan’s economic performance, highlighting the increase in tax collection, increased remittances and foreign exchange reserves of over $9 billion.
He highlighted the positive assessment of international rating agencies which reflects the stability of Pakistan’s economic environment, according to a press release from the Ministry of Finance.
The minister also discussed the successful conclusion of a 9-month stand-by agreement with the International Monetary Fund (IMF) and the recently finalized staff-level agreement for the IMF’s 37-month program.
The minister further outlined the ongoing initiatives, including comprehensive digitization in the Federal Bureau of Revenue (FBR) to broaden the tax base, reforms in the power sector, restructuring of state-owned enterprises (SOEs) and focus on exports. – led growth.
“These initiatives are aimed at strengthening economic stability and promoting long-term growth,” he said.
Speaking on the occasion, the Finnish ambassador expressed his appreciation for Pakistan’s economic reforms and noted the improvement in the fiscal situation of Finnish companies operating in Pakistan.
The Minister thanked the Ambassador for Finland’s continued support in the restoration of Pakistan’s GSP Plus status benefiting the country’s export sector. The meeting underscored the strong bilateral relations between Pakistan and Finland and the shared commitment to promote economic stability and growth.
