Islamabad: Overseas Investors Chamber of Commerce & Industry has said that they witness early signs of improved investor sentiment and reaffirmed its willingness to work with the government to reinforce economic progress.
The Chamber senior members shared their perspective on expanding the tax base, strengthening enforcement through technology and inter-agency coordination, and deepening institutional engagement with the private sector to support more effective policy development and implementation.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held two key engagements to underscore Pakistan’s macroeconomic progress and reform agenda — one with the Overseas Investors Chamber of Commerce & Industry (OICCI) and the other with representatives from Standard & Poor’s (S&P) Global Ratings.
Macro Stability
In his virtual meeting with OICCI members, the Finance Minister reaffirmed the government’s commitment to macroeconomic stability and long-term private sector-led growth.
He outlined ongoing structural reforms across key sectors including taxation, public finance, energy, and state-owned enterprises (SOEs), emphasizing transparency, efficiency, and accountability.
The Minister credited disciplined fiscal management and improved federal-provincial coordination for creating a more resilient economic foundation.
He welcomed OICCI’s input for the upcoming budget and stressed that sustained investor engagement was central to policy development.
OICCI acknowledged the reform drive and highlighted improvements in investor sentiment, noting encouraging results from its recent Business Confidence Survey.
The Chamber called for expanding the tax base, leveraging technology for enforcement, and deepening institutional collaboration with the private sector.
S&P Ratings
In a separate engagement with S&P Global Ratings, Senator Aurangzeb detailed Pakistan’s reform trajectory as part of the sovereign ratings review.
He highlighted the containment of inflation, a controlled current account deficit, and the achievement of a primary surplus as key markers of macroeconomic stability.
The Minister projected foreign exchange reserves to rise to $14 billion by end-June, supported by strong remittances, easing oil prices, and incoming institutional inflows.
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He emphasized institutional milestones such as the National Fiscal Pact, the operationalization of the National Tax Council, and the imposition of agricultural income tax, all aimed at broadening the revenue base.
The government’s focus on increasing the tax-to-GDP ratio to 13% by the end of the current IMF program was also reaffirmed.
He explained that separating the Tax Policy Office from the FBR was a step toward aligning fiscal strategy with economic value creation.
Senator Aurangzeb also shared outcomes from his recent participation in the World Bank/IMF Spring Meetings in Washington, where he conducted over 70 engagements with international partners.
Feedback from global stakeholders was largely supportive of Pakistan’s recent reforms and encouraged the government to maintain and deepen its policy momentum.
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Collectively, these engagements reflect Pakistan’s intent to strengthen macroeconomic fundamentals, foster investor confidence, and solidify the foundation for sustainable, inclusive growth.
