March 20, 2024 (MLN): The government's foremost priority is to reform the Federal Board of Revenue (FBR) to prevent revenue leakages through end-to-end digitization, enhance the State-Owned Enterprise (SOE) reforms, strengthen social protection measures and improve public financial management.
According to a press statement released yesterday, the Minister for Finance & Revenue Muhammad Aurangzeb made these remarks during a meeting with the Ambassador of the United States to Pakistan, Donald Blome.
He further stated that the government would implement rapid reforms in the energy sector, remove distortionary subsidies, and foster private sector-led economic growth.
The finance minister shared that the new government is fully prepared to tackle the economic challenges and is determined to bring about macroeconomic stability in the country.
He reiterated the government's commitment to completing the ongoing IMF program and continuing the economic reform process initiated under the Extended Fund Facility (EFF) 2019 and Stand-By Arrangement (SBA) 2023, with a focus on achieving fiscal and debt sustainability, social protection, and rebuilding foreign exchange reserves.
Recognizing the United States as one of Pakistan's largest trading partners and a significant source of foreign direct investment, Minister Aurangzeb expressed appreciation for the economic ties between the two nations.
Ambassador Blome congratulated the Government on the positive step taken so far that resulted in visibly positive signs in the economy and hoped that it would help further stabilize the economy.
Concluding the meeting, both sides acknowledged the critical nature of the relationship between Pakistan and the United States and expressed the desire to continue enhancing bilateral relations between the two countries.
