Aurangzeb, US ambassador discusses economy – newspaper

ISLAMABAD: Finance Minister Mohammad Aurangzeb on Monday underlined the longstanding mutual ties between Pakistan and the United States.

The Minister informed US Ambassador Donald Bloom who met him.

The government has successfully completed the Stand-By Arrangement (SBA) and is engaged with the International Monetary Fund to develop reforms under the SBA.

He highlighted the government’s priority reform areas, including increasing the tax-GDP ratio through end-to-end digitization, bringing taxable sectors into the tax net and tax administration reforms.

The minister reiterated the Prime Minister’s commitment to privatize state-owned enterprises (SOEs), which in the case of Pakistan International Airlines (PIA) has sparked interest from local and foreign investors.

Regarding energy sector reforms, he noted that steps are being taken to bring in private sector experts to improve efficiency. He also apprised the ambassador about possible investments from investors in agriculture, mining and information technology sectors.

Appreciating the government’s efforts and initiatives to improve macroeconomic indicators, Mr. Blom assured the support of the United States in helping Pakistan achieve economic stability and sustainable development.

Posted on May 28, 2024 at dawn

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