Pakistan, UK boost economic reforms under REMIT

August 12, 2025 (MLN): Pakistan and the United Kingdom reviewed progress on key economic reforms today under the UK-supported Revenue Mobilisation, Investment and Trade (REMIT) Programme, reaffirmed their commitment to accelerating initiatives in taxation, trade, and investment.

The Steering Committee meeting was chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and co-chaired by Ms Jane Marriott, the British High Commissioner to Pakistan.

During the meeting, updates were shared on several key initiatives supported by REMIT, including technical assistance for implementing IMF commitments, progress on GST harmonisation, climate and disaster budget tagging in provinces, regulatory reforms at the provincial level, trade liberalization and industrial policy.

The session included senior officials from the Ministry of Finance, Federal Board of Revenue (FBR), Ministry of Commerce, other stakeholder ministries, and representatives from the British High Commission and the Foreign, Commonwealth & Development Office (FCDO).

The finance minister praised the advancements made across taxation, investment, trade, and macroeconomic portfolios.

He particularly commended the progress in Compliance Risk Management, improvements in the taxpayer interface with the FBR, and ongoing regulatory and tariff reforms aimed at stimulating Pakistan’s economic growth and emphasized the need for a coordinated approach to attract investment, covering short, medium, and long-term horizons.

Further Highlighting investor priorities, the Finance Minister noted that reduced taxation, lower energy costs, affordable financing, and a supportive regulatory framework are essential to boosting confidence among local and international investors.

While acknowledging government efforts to address challenges in taxation, energy, and financing, he stressed that creating a business-friendly regulatory environment is a more achievable goal through commitment, diligence, and sincerity.

Ms Marriott reiterated the UK Government’s commitment to supporting Pakistan’s economic reform objectives, emphasizing that the REMIT Programme remains a vital platform for advancing fiscal, trade, and investment reforms in collaboration with federal and provincial stakeholders.

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