Finance Minister Muhammad Aurangzeb highlights the importance of successfully concluding IMF program to bolster foreign exchange reserves

ISLAMABAD, July 09 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb was called on by the President and CEO of Pak Matiari-Lahore Transmission Company (PMLTC) Zhang Lei accompanied by Deputy CEO Ma Desheng and CFO Wang Bo at Finance Division on Tuesday.

Ms. Zhang Lei extended her congratulations to Senator Muhammad Aurangzeb on assuming office and appreciated the Government’s efforts in driving reforms and structural developments across various sectors. She provided an overview of China Electric Power Equipment and Technology Co. Ltd. (CET) and its ongoing projects in several countries. Ms. Lei briefed the Minister on the progress of the Matiari-Lahore HVDC project and discussed potential opportunities in Pakistan pertaining to hybrid renewable energy and hydrogen production. The delegation also raised some issues related to currency conversion and sales tax recovery from the National Transmission and Dispatch Company (NTDC).

The Finance Minister acknowledged the contributions of PMLTC to infrastructure development and assured the delegation of required support through relevant government channels. He highlighted the importance of successfully concluding the IMF program to bolster foreign exchange reserves and underscored the ongoing reforms in Pakistan’s power sector.

The meeting concluded on a positive note, with both parties expressing optimism about future collaborations aimed at advancing Pakistan’s energy landscape and fostering economic growth.

Meanwhile Muhammad Aurangzeb was called on by the Chairman Nestle Pakistan Syed Yawar Ali and Ex-President Farmers Association of Pakistan Afaq Ahmed Tiwana in Finance Division today. Minister of State for Finance and Revenue Ali Pervaiz Malik and Member-IR Policy FBR also joined the meeting.

The meeting focused on exploring avenues for enhancing the growth of Pakistan’s agriculture and livestock sectors. Syed Yawar Ali shared insights on the current state of these sectors and emphasized their potential to significantly increase yield productivity and exports. He and Afaq Ahmed Tiwana conveyed their appreciation to the Government for prioritizing agriculture and livestock in its policy framework. They proposed the establishment of a dedicated body tasked with formulating evidence-based policies to foster sectoral growth and exports, leveraging input from professionals and research experts.

Finance Minister Muhammad Aurangzeb thanked the delegation for their constructive proposals. He underscored the Government’s commitment to supporting these vital sectors through enhanced financing mechanisms. The Minister assured that relevant ministries would be consulted to consider the proposed framework, aiming to translate it into actionable policies that drive tangible results.

The meeting concluded on a positive note, with all parties expressing optimism about the potential for collaborative efforts to uplift Pakistan’s agriculture and livestock sectors, thereby contributing to national economic growth and prosperity.