Islamabad: Ms. Johana Chua, Head of Emerging Markets at Citigroup has said that they would be exploring sustained engagement and avenues of investment in Pakistan.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, conducted a virtual session with Ms. Johana Chua, Head of Emerging Markets Economies at Citigroup Global Markets, accompanied by several members of the global investment community.
Ms. Chua and her team commended Pakistan’s recent economic measures and acknowledged the government’s efforts toward fiscal sustainability, export diversification, and tax reform.
She welcomed the progress made under the IMF program and reaffirmed Citigroup’s interest in sustained engagement with Pakistan, expressing confidence in the country’s reform direction and global re-integration.
During the discussion, the Minister shared a comprehensive overview of Pakistan’s recent economic trajectory.
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He highlighted his recent visit to the United Kingdom, where meetings with key bilateral stakeholders reflected a positive and constructive outlook on Pakistan’s economic prospects.
Senator Aurangzeb pointed to the recent sovereign credit rating improvement by Fitch, describing it as a strong indicator of external confidence in the country’s macroeconomic recovery and reform momentum.
He emphasized that a steadfast commitment to reform and fiscal prudence remains at the heart of the government’s economic policy, stressing the importance of continuity in governance.
The Minister also briefed participants on the successful staff-level agreement reached with the International Monetary Fund (IMF) under the Extended Fund Facility (EFF), noting that the next tranche is expected imminently.
He also referenced the recent approval of the Resilience and Sustainability Facility (RSF), characterizing it as a landmark in Pakistan’s economic journey.
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Touching on Pakistan’s development priorities, Senator Aurangzeb reiterated the government’s focus on an export-oriented growth approach.
He underlined the rise in IT service exports, which have reached USD 3.2 billion during the year, as a testament to the sector’s growing potential.
In terms of fiscal reforms, the Finance Minister discussed legislative advancements such as the implementation of Agricultural Income Tax and the revitalization of the National Tax Council.
He noted that while the salaried class and formal sector already contribute significantly to revenue, expanding the tax base and strengthening enforcement mechanisms in areas with high tax evasion are crucial steps moving forward.
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The meeting concluded with both parties agreeing to continue dialogue and explore opportunities for deepening future collaboration.
