Finance Minister Muhammad Aurangzeb stresses the govt’s focus on transforming Pakistan into an export-led economy
ISLAMABAD, August 26 (SABAH): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Antti Partanen, a representative from FinnFund, a Finnish development financier. The meeting focused on exploring potential investment opportunities in Pakistan.
The Finance Minister underscored the significant improvements in Pakistan’s macroeconomic indicators and highlighted the government’s structural reform agenda, including the digitalization of the Federal Board of Revenue (FBR), energy sector reforms, State-Owned Enterprises (SOEs) reforms, and privatization measures. He stressed the government’s focus on transforming Pakistan into an export-led economy and attracting Foreign Direct Investment (FDI) to enhance the country’s export base.
Antti Partanen presented an overview of FinnFund’s profile and investment initiatives in Pakistan, emphasizing their interest in digital infrastructure, renewable energy, agriculture, and forestry. He noted that Pakistan’s growing young population makes it an attractive destination for financing and expressed FinnFund’s willingness to explore investments in various sectors of the country.
The Minister reiterated the commitment of the government for making Pakistan’s investment climate favourable and conducive for foreign investors.
Meanwhile Finance Minister Muhammad Aurangzeb chaired the Steering Committee Meeting on the Pakistan Raises Revenue Program (PRRP) at the Finance Division on Monday. The meeting was attended by the Minister of State for Finance & Revenue Ali Parvez Malik, Chairman FBR, Secretary EAD, Secretary PD&SI, Secretary Maritime Affairs, Ms. Tania Airdus CEO Waseela, Salman Nasir CEO Ayesha Spinning Mills Ltd., Kamran Khalid Chief Product Officer Netsol Technologies, senior officers from concerned ministries and FBR, and key stakeholders from the private sector and relevant agencies.
The meeting focused on strategies to enhance Pakistan’s revenue generation capacity. During the meeting, participants discussed various initiatives and reforms aimed at broadening the tax base, improving tax compliance, and reducing revenue leakages. The committee explored innovative approaches to enhance the efficiency of tax collection mechanisms and ensure equitable distribution of the tax burden. The Steering Committee Meeting concluded with a strong consensus on the need for concerted efforts to implement the PRRP and achieve its objectives. The government will continue to engage with stakeholders and take necessary steps to ensure the successful implementation of the program.