Finance Minister briefs US Ambassador on key investment sectors

May 28, 2024 (MLN): Pakistan's Finance Minister, Muhammad Aurangzeb, apprised the US Ambassador to Pakistan Donald Blome of potential investments from investors in the agriculture, mining, and IT sectors during a meeting on Monday.

Finance Minister Muhammad Aurangzeb welcomed Ambassador Blome and underscored the long-term mutual relations between Pakistan and the USA.

He informed the Ambassador about the successful completion of the Stand-By Arrangement (SBA) and that the Government of Pakistan is engaged with the fund to build upon the reforms under the SBA.

Senator Muhammad Aurangzeb highlighted the priority reform areas of the Government including increasing the tax-to-GDP ratio through end-to-end digitization, bringing the under-taxed sectors into the tax net, and tax administrative reforms.

The Federal Minister reiterated the Prime Minister's commitment to privatizing 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 private sector experts to enhance efficiency.

Ambassador Blome appreciated the Pakistani government's efforts and initiatives to improve macroeconomic indicators. He assured the support of the United States in helping Pakistan achieve economic stability and sustainable growth.

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