Fina­nce Minister Aurangzeb, US envoy discuss economy

Published May 28, 2024
ISLAMABAD: Finance Minister Muhammad Aurangzeb and US Ambassador Donald Blome hold a meeting on Monday.—PID
ISLAMABAD: Finance Minister Muhammad Aurangzeb and US Ambassador Donald Blome hold a meeting on Monday.—PID

ISLAMABAD: Fina­nce Minister Muha­mmad Aurangzeb on Monday underscored the long-term mutual relations between Pakistan and the United States.

The minister informed US Ambassador Donald Blome, who called on him, about the successful completion of the Stand-By Arrangement (SBA) and that the government was engaged with the International Monetary Fund to build upon the reforms under the SBA.

He highlighted the government’s priority reform areas, including increasing the tax-to-GDP ratio through end-to-end digitisation, bringing the under-taxed sectors into the tax net, and tax administrative reforms.

The minister reiterated the prime minister’s commitment to privatising State-Owned Enterprises (SOEs), which has sparked interest from local and foreign investors in the case of Pakistan International Airlines (PIA).

On the energy sector reforms, he mentioned steps being taken to bring in private sector experts to enhance efficiency. He also apprised the ambassador of potential investments from investors in the agriculture, mining, and IT sectors.

Mr Blome appreciated the government’s efforts and initiatives to improve macroeconomic indicators and assured the support of the US in helping Pakistan achieve economic stability and sustainable growth.

Published in Dawn, May 28th, 2024

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