Finance Minister Muhammad Aurangzeb Highlights Economic Reforms and Investment Opportunities
London: By Safina Khan | Voice of Asia News
The Pakistan High Commission in London hosted a high-level Pakistan Investment Roundtable, bringing together leading investors, financial institutions and global asset management firms to discuss Pakistan’s economic outlook, investment climate and emerging opportunities.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb attended the roundtable as the keynote speaker. Governor State Bank of Pakistan Jamil Ahmed, Advisor to the Finance Minister Khurram Schehzad, and Pakistan’s High Commissioner to the UK Tipu Usman were also present.
Addressing the gathering, Senator Muhammad Aurangzeb said the Government of Pakistan remained committed to macroeconomic stabilisation while pursuing sustainable economic growth.
The Finance Minister highlighted the government’s structural reform agenda, saying reforms were being implemented with a focus on strengthening institutions and creating a more enabling environment for the private sector.
Senator Aurangzeb said fiscal consolidation was beginning to deliver results, pointing to the primary surplus, reduction in the fiscal deficit, improved revenue mobilisation and progress on institutional and fiscal reforms.
He said the government was also pursuing reforms in state owned enterprises, alongside its privatisation programme. Energy-sector reforms, greater financial transparency and improvements in the ease of doing business, he added, were key components of the government’s broader economic strategy.
On taxation, the Finance Minister stressed the importance of broadening the tax base and improving enforcement to support long-term economic growth. He said discretionary powers of tax authorities had been curtailed and that there was no preferential treatment in taxation.
Senator Aurangzeb also stated that no additional taxes had been imposed on the salaried class, while emphasising the need for a broader and more equitable tax base.
Discussing external economic challenges, the Finance Minister said Pakistan’s economy had faced significant pressures following the major floods last year, while the recent conflict in the Middle East had also contributed to volatility in global oil prices.
Despite these challenges, Senator Aurangzeb said Pakistan was open for business, highlighting renewed international investor interest and the country’s progress under its economic reform programme.
He further noted that Pakistan had successfully completed its IMF reviews on schedule, while recent credit-rating upgrades had provided further recognition of progress on the economic front.
The roundtable also featured an interactive question-and-answer session, during which the Finance Minister engaged directly with representatives of financial institutions.
Discussions focused on Pakistan’s economic outlook, the investment environment, cooperation with international financial institutions and potential investment opportunities across different sectors of the Pakistani economy.
The London roundtable provided an opportunity for Pakistan’s economic leadership to engage directly with international investors and financial-sector representatives at a time when the government is seeking to attract greater foreign investment and strengthen confidence in the country’s economic reform programme.
