ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday held a meeting with a group of leading United Arab Emirates (UAE) investors and businessmen and highlighted the country’s economic reforms and investment opportunities.
The delegation led by Mohamed Baradei – Group CIO of the EIX, an Abu Dhabi-based global company specializing in investment and strategic advisory services, said a news release.
Welcoming the delegation, the minister expressed his appreciation for their visit to Pakistan and hoped that their interactions with government leaders, private sector representatives, and local investors had provided them with valuable insights into the country’s investment potential.
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Aurangzeb briefed the delegation on the state of Pakistan’s economy and the wide-ranging structural reforms undertaken over the past one and a half years, emphasizing that the direction of travel was firmly positive across all macroeconomic indices.
He highlighted the achievement of a primary surplus after many years, the return of inflation to single digits, stable currency, robust foreign exchange reserves, and external validation from leading international rating agencies which are now aligned in their improved assessment of Pakistan’s economy.
Exports and remittances were described as healthy, while the Karachi Stock Exchange has been witnessing unprecedented activity, with over 70,000 new investors entering the market, reflecting growing confidence among both domestic and foreign investors.
He noted that Pakistan was preparing to tap international capital markets through its first-ever Panda bond, while also planning future issuances in Euro and USD markets to further strengthen reserves.
He underscored the government’s commitment to addressing investor concerns, noting that taxation reforms, tariff rationalization, privatization of state-owned enterprises, and a series of bold structural measures were aimed at fundamentally transforming the DNA of the economy.
He informed the investors about promising opportunities in the mining sector, especially the Reko Diq project, which is expected to significantly strengthen Pakistan’s external sector through sustainable foreign inflows.
He also shared updates on the government’s upcoming industrial policy, which will provide a roadmap for further improving the investment climate, and noted that bold tariff reforms and the launch of policies such as the digital and export promotion policies indicate the government’s future trajectory of reforms.
The minister also spoke about efforts to widen and deepen the tax base beyond the manufacturing and salaried sectors by bringing services, wholesale, retail, and agriculture into the net, while simultaneously working to lower energy and financing costs for businesses.
He highlighted ongoing privatization efforts, with major transactions including Pakistan International Airlines (PIA) and other state assets expected to proceed in the coming weeks and months.