Islamabad, Jan 16: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, recently met with the Japanese Ambassador to Pakistan, Akamatsu Shuichi, at the Finance Division. During the meeting, Aurangzeb reiterated Pakistan’s dedication to maintaining the trust and credibility of its bilateral and multilateral development partners, including Japan.
He praised Japan for its diplomatic, economic, and technical support and urged Japanese investors to capitalize on investment opportunities in Pakistan, especially in sectors such as manufacturing and production. These sectors, he emphasized, have significant potential to contribute to Pakistan’s exportable surplus.
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Aurangzeb also welcomed Ambassador Akamatsu to his new role in Islamabad, commending Japan’s longstanding partnership with Pakistan. He highlighted the positive progress in Pakistan’s macroeconomic stability, which he attributed to key structural reforms in several sectors, such as fiscal management, taxation, Special Economic Zones (SEZs), energy, rightsizing of the federal government, and privatization.
The Minister underscored the government’s ongoing commitment to implementing critical reforms, particularly addressing issues like population growth and climate change vulnerability.
The Minister also discussed the 10-year Country Partnership Framework signed with the World Bank, focusing on overcoming these challenges while promoting sustainable and inclusive economic growth. Ambassador Akamatsu praised Pakistan’s progress in stabilizing its economy and welcomed the government’s reform initiatives.
He highlighted the ongoing contributions of Japanese investments, with approximately 80 Japanese companies currently operating in Pakistan, employing over 65,000 local workers, and playing a crucial role in the economy.
Minister Aurangzeb expressed appreciation for Japan’s valuable contributions and assured the Ambassador that Pakistan remains committed to collaborating with Japanese investors. He emphasized that their input would be vital in shaping the upcoming federal budget’s policy framework.
Both leaders agreed on the importance of further strengthening bilateral economic ties and exploring new areas for cooperation, aiming to boost mutual growth and prosperity.
