Finance Minister Muhammad Aurangzeb reaffirms the Govt’s resolve to carry forward the comprehensive reforms agenda

ISLAMABAD, Sep 04 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with a delegation of international investors led by Amin Mohammad Khowaja, CEO of J.P. Morgan Pakistan.

The discussions centered on the interests of the institutional investors exploring fixed income investment opportunities in Pakistan’s economy. During the meeting, the Finance Minister highlighted the significant strides Pakistan has made in improving its macroeconomic indicators – including the 14 % rise in exports, the decline in inflation to 9.6 % (which is 34 months low), and an overall decline in the Current Account deficit. He also pointed out the improvement in Pakistan’s sovereign credit ratings which reflect a stable and promising economic outlook. “The country’s economic growth is underpinned by robust fiscal discipline, inflation management, and a favorable balance of payments” he stated.

Senator Muhammad Aurangzeb also elaborated on the government’s ambitious structural reforms agenda, aiming at broadening the tax base, rightsizing of the public sector, privatization drive, and energy sector reforms, to aid overall macroeconomic stability. The Minister reaffirmed the Government’s resolve to carry forward the comprehensive reforms agenda to enhance the efficiency and governance of public institutions. “These reforms,” he noted, “are designed to create a more conducive environment for foreign investment and to ensure the long-term stability of the economy.”

The delegation commended the government’s efforts to create a business-friendly environment and expressed optimism about the prospects of increased investment flows into Pakistan. The discussions covered a range of potential investment areas, including renewable energy, information technology, infrastructure development, and the financial sector.

The investors expressed keen interest in these sectors, recognizing Pakistan as a market with immense potential and a strategic location as a gateway to regional markets where foreign investors are eager to explore opportunities for investment in various sectors. The Finance Minister assured the delegation of the government’s full support in facilitating their investment ventures and welcomed their interest in contributing to Pakistan’s economic growth and reiterated Pakistan’s strong commitment to attracting foreign investments through maintaining a business friendly environment.