Muhammad Aurangzeb appreciate the PepsiCo’s seed lab initiative & its impact in driving agricultural & overall economic growth

ISLAMABAD, August 12 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with PepsiCo’s CEO for Africa, ME & SA Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Muhammad Khosa at Finance Division on Monday.

The Finance Minister welcomed Eugene Willemsen and provided an update on Pakistan’s economic progress. He highlighted recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency. The Minister attributed these positive indicators to the successful completion of the nine-month stand-by arrangement (SBA) with the IMF and mentioned that a staff-level agreement (SLA) has been reached to ensure continued economic stability. The Federal Minister also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, emphasizing the government’s initiative to incorporate undertaxed and untaxed entities into the tax net. He appreciated the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth.

Talking about the digitization in FBR, the Minister discussed the integrating RAAST (the digital payment system) and NADRA (the national database and registration authority) to further improve efficiency.

Eugene Willemsen expressed appreciation for Pakistan’s positive economic indicators and noted the growth in the financial sector. The meeting underscored the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.

Meanwhile Federal Minister for Finance and Revenue Muhammad Aurangzeb visited Federal Board of Revenue Headquarters on Monday and chaired a meeting which was attended by State Minister for Finance & Revenue, Ali Pervez Malik, Chairman FBR, Rashid Mahmood Langrial, Members and other senior officers of the Board. During the meeting, the Federal Minister acknowledged the services and contributions of the former Chairman FBR Malik Amjed Zubair Tiwana especially his role in budgeting process and IMF negotiations.

The Minister also welcomed the new Chairman FBR, Rashid Mahmood Langrial and expressed confidence in his abilities to lead the organization and achieve the assigned targets. On the occasion, Member Inland Revenue (Operations), Mir Badshah Khan Wazir and Member Customs (Operations), Ashhad Jawwad gave detailed presentations about their respective domains. The meeting also deliberated upon strategy to achieve the current financial year’s revenue collection targets. The Federal Minister appreciated the FBR Team’s persistent efforts for maximising revenue and broadening the tax base for sustained economic development.