Today in Islamabad, Italian Ambassador Ms. Marilina Armellin met with Finance Minister Muhammad Aurangzeb to discuss the enduring cooperation between Pakistan and Italy.
The Finance Minister warmly welcomed Ambassador Armellin and highlighted the remarkable advancements in Pakistan’s economic landscape. He shared achievements such as reducing the current account deficit, globalizing the currency, achieving record highs in the stock market, and successfully concluding the nine-month Stand-By Arrangement with the International Monetary Fund. He also mentioned ongoing discussions with the IMF for a longer-term program.
Moreover, the Minister outlined the government’s strategic endeavors to expand the tax base by targeting previously untaxed sectors and reiterated plans to privatize State-Owned Enterprises, starting with Pakistan International Airlines and major airports. He emphasized the government’s shift from aid to investment in economic strategy.
Highlighting Pakistan’s potential in IT and agriculture, the Minister invited Italian investors to explore opportunities in these sectors.
Ambassador Armellin praised the positive economic indicators and commended Pakistan’s economic progress. She highlighted the potential for increased cooperation between Italy and Pakistan, particularly in textiles, machinery, agriculture, and dairy sectors.
Expressing gratitude for Italy’s ongoing support, the Finance Minister reaffirmed Pakistan’s commitment to long-standing collaboration with Italy.
