Pakistan plans privatization, private management to address energy sector governance

March 26, 2024 (MLN): The governance issues of the distribution companies operating in the energy sector will be addressed through private participation in the management and eventual privatization, the Minister for Finance Muhammad Aurangzeb highlighted during a meeting with Japanese Ambassador Mitsuhiro Wada today.

The Minister for Finance & Revenue welcomed the Ambassador and stated that the government is committed to undertake reforms to bring macroeconomic stability and sustainability.

He stated that increasing the tax-to-GDP ratio remains a priority area. In this regard, the government will strive to achieve end-to-end digitization to expand the tax base, bring transparency in the tax system and improve the client experience.

Ambassador Wada noted the commitment of the government to continue with the implementation of prudent fiscal policies and structural reforms.

He informed that presently 80 Japanese companies are operating in Pakistan.

He highlighted some of the issues being faced by Japanese automakers in Pakistan. 

The finance minister further informed that agriculture and IT sectors have demonstrated robust growth recently and the Government would make efforts to support these sectors to become growth leaders.

Concluding the meeting, both sides expressed their desire to further enhance the bilateral cooperation between Pakistan and Japan and pledged to work together towards achieving common goals for the benefit of both nations.

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