ISLAMABAD, AUGUST 2: Today at Finance Division, Minister of State for Finance Ali Pervaiz Malik was visited by Nicolas Galey, the French ambassador to Pakistan.
In his assessment of Pakistan’s economic development, pervaiz Malik emphasized favorable developments that have been supported by recent international agency ratings, including rising foreign currency reserves, declining inflation, and a strong stock market. He listed the main ongoing reforms, such as the improvements in the energy sector, the privatization programs, and the reorganization of state-owned enterprises (SOEs).
The digitalization program of the Federal Board of Revenue (FBR), which is being carried out with assistance from McKinsey to improve tax administration and compliance, was also discussed.
The minister gave a brief overview of the 2024–25 budget, emphasizing methods to increase the tax base by including non-taxed areas and enticing non-filers to submit. There was also discussion of significant customs and inland revenue initiatives that intended to increase operational efficiency and digitalization.
Ambassador Galey acknowledged Pakistan’s outstanding reforms and extended an offer of French technical assistance in areas of shared interest. He acknowledged the efforts of the Pakistani government to stabilize the economy and expressed optimism about future cooperation.
With an eye on the future, both sides reaffirmed their resolve to strengthen their business ties, look into potential investments, and increase bilateral commerce.
