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Ms. Zhang Lei extended her congratulations to Senator Muhammad Aurangzeb on assuming office and appreciated the Government’s efforts in driving reforms and structural developments across various sectors. Ms. Lei briefed the Minister on the progress of the Matiari-Lahore HVDC project and discussed potential opportunities in Pakistan pertaining to hybrid renewable energy and hydrogen production. The delegation also raised some issues related to currency conversion and sales tax recovery from the National Transmission and Dispatch Company (NTDC). Senator Muhammad Aurangzeb appreciated the delegation for their role in the bumper production and export of rice, raising the overall export volume to $8 billion. He highlighted the pivotal role of agriculture sector as one of the engines of economic growth, emphasizing its significance in driving national prosperity.
The discussion underscored the importance of strengthening economic cooperation between Pakistan and Dubai Islamic Bank. The meeting reflected the shared commitment of both parties to fostering sustainable economic development and further deepening financial ties between Pakistan and the UAE. The Finance Minister also recalled a recent meeting with the Turkish Trade Minister, where both sides discussed various avenues for trade and business collaboration. This meeting, he noted, is part of the broader strategy to strengthen ties between Pakistan and Turkey in multiple sectors, including aviation.
The meeting was also attended by Minister of State Mr. Ali Parvez Malik, and Senior officers from the Finance Division and State Bank of Pakistan. During the meeting, Mr. Mehmat T. Nane presented an overview of the Turkish aviation strategy, highlighting key aspects that could benefit Pakistan’s aviation sector. He elaborated on how Pakistan could leverage Turkiya’s experience and expertise to advance its own aviation industry. Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mr. Mehmat T. Nane, Chairperson of Pegasus Airlines, accompanied by Mr. Muhammad Ali Tabba, CEO of Lucky Cement Limited. In the end, the Minister extended his best wishes to Ambassador Paçaci in his future endeavors and expressed confidence for continued collaboration and enduring friendship between Pakistan and Türkiye. The Ambassador also assured of Turkiye’s continued commitment to working towards the common goals of both nations.
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The discussion stressed the urgent need for access to global payment gateways like PayPal and creation of similar payment solutions at home to empower IT professionals and freelancers and enhance Pakistan’s global competitiveness. In concluding remarks, Finance Minister Senator Muhammad Aurangzeb emphasized the importance of ensuring timely policy measures to address critical economic, energy, and agricultural needs, with a focus on transparency and efficiency in implementation. The ECC approved a proposal regarding the establishment of the Siah Dik Copper Project in District Chagai, Balochistan, submitted by the Ministry of Industries and Production. It approved the declaration of Private Export Processing Zone (Saindak EPZ), under Section 9A read with Section (k) of the Ordinance. This initiative would aim to foster financial inclusion, enhance public awareness, and promote seamless digitization and promoting the KSE-100 Index’s remarkable returns was identified as an essential task for brokers and market participants.
The meeting was attended by the Minister for Industries & Production Rana Tanveer Hussain, Minister for Commerce Mr. Jam Kamal Khan, Minister for Privatization Mr. Abdul Aleem Khan, Deputy Chairman Planning Commission, Federal Secretaries, and other senior officials of the relevant ministries. Mr. Ahmed Abdelaal, President / GCEO of Mashreq Bank, called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb virtually to discuss the economic outlook and explore investment opportunities in Pakistan. The Minister reiterated the commitment of the government for making Pakistan’s investment climate favourable and conducive for foreign investors. The meeting concluded with both parties expressing a strong commitment to strengthening the economic ties between Pakistan and Denmark, particularly in the mining and cement industries, which hold significant potential for growth and development. The Finance Minister assured the delegation of Pakistan’s dedication to providing a favorable and conducive investment climate for foreign investors.
- He expressed satisfaction over the progress of AIIB projects in Pakistan and emphasized further efforts to improve the disbursement of ongoing projects.
- The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, attended virtually the 1st Workshop on “Implementation Management” organized by the Kingdom of Saudi Arabia (KSA).
- In July 2024, we introduced a reform-oriented budget with an ambitious goal of raising Rs13 trillion in revenue – a 40% increase from the previous year.
- Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired a meeting on the New Energy Vehicle (NEV) Policy 2025 at the Finance Division today.
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Ambassador Abdula proposed the exploration of educational cooperation, specifically the promotion of student exchange and scholarship programs. This initiative aims at providing Ethiopian students with opportunities to study in Pakistan, fostering educational and cultural ties between the two nations. During the meeting, the Finance Minister highlighted the significant strides achieved in recent months to stabilize the economy and put it on a sustainable path of growth. Senator Muhammad Aurangzeb called the macroeconomic reforms “work in progress” and pointed to more serious challenges of climate change and child stunting which threatened to perpetuate inequalities and disrupt the pace of economic growth and stability in Pakistan over the medium to long term. He said Pakistan looked forward to building climate resilience through adaptation reforms and averting malnutrition with the technical and financial support of development partners for ensuring holistic development goals.
He underscored the importance of attracting more capital to support sustainable development initiatives within the country. This aligns with the global shift towards greener investments and highlights TPG’s commitment to responsible investing. Senator Muhammad Aurangzeb acknowledged and appreciated the longstanding bilateral cooperation, and highlighted the significance of Japan’s developmental and economic assistance and its vital role in helping Pakistan overcome economic challenges and strengthen https://official-chicken-road-game.pk/ its economy. He said both nations have significant potential to strengthen their ties through increased exchanges in trade, culture, education, and people-people interaction. During the meeting which was also attended by Minister of State for Finance and Revenue Mr. Ali Pervaiz Malik and Chairman FBR Mr. Rashid Mahmood Langrial, issues of mutual interest, including bilateral cooperation and collaboration in trade, commerce and socio-economic sectors, were discussed.
The meeting concluded with a clear directive for a follow-up examination, with a focus on rightsizing measures that ensure effectiveness, better service delivery, and sustainable public policies. The Ministry of Poverty Alleviation & Social Safety also presented its work, which spans across multiple departments with overlapping functions. The Minister remarked that while much progress had been made, the fragmented approach to various departmental verticals had hindered scaling up the impact on public policy outcomes and public service delivery. Senator Aurangzeb acknowledged the challenges the FBR had faced due to under-investment over the years and reiterated the importance of embracing technological advancements, such as the implementation of automation systems, to improve efficiency and service delivery. Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting with a delegation from the Multilateral Investment Guarantee Agency (MIGA) at the Finance Division today.
The Finance Minister also commended the Pakistan Army and other security forces for their unwavering commitment to safeguarding the nation’s sovereignty and ensuring peace within the region. He emphasized that the sacrifices of martyrs are a reminder of the enduring strength and resilience of Pakistan’s military and the spirit of its people. Mr. Javed Kureishi, Member Board of Directors KE, Mr. Mubasher H. Sheikh, Member Board of Directors KE, Mr. Moonis Alvi, CEO KE, Mr. Imran Qureshi, Chief Regulatory Affairs KE, M. Aamir Ghaziani, CFO KE and senior officials of the Finance Division also attended the meeting. After careful consideration, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved the proposal, categorizing the NHA as an essential SOE.
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His appointment is a critical achievement in Pakistan’s efforts to become a regional leader in the cryptocurrency space and ensure that the country is prepared to handle the regulatory, economic, and security challenges posed by this emerging sector. The Minister also outlined Pakistan’s ongoing commitment to its partnership with the World Bank, particularly focusing on the two key areas of population management and learning poverty, which are part of the 10-year Country Partnership Framework signed between Pakistan and the World Bank. He reiterated Pakistan’s determination to address these issues effectively with the necessary technical and financial support.
Group Chief Executive of Standard Chartered Bank PLC Mr. Bill Winters called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division today. Standard Chartered Pakistan CEO Mr. Rehan Shaikh and Head CCIB Pakistan Mr Arslan Nayeem were also present in the meeting. A delegation of Pakistan Tax Bar Association led by PTBA President Anwar Kashif Mumtaz called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division today.
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Prof. Dr. Omer Bolat, Trade Minister of Turkiye, which helped in exploring new avenues for cooperation in sectors such as energy, agriculture, infrastructure, and technology. The meeting also discussed various aspects of the operations of these companies, including investment strategies, performance metrics, and key impediments affecting their growth. Both companies presented their achievements and challenges, highlighting areas that require policy support to overcome obstacles in their operational landscape. The discussion also focused on potential areas for future investments and collaborations through more Government-to-Government initiatives in order to support priority sectors. CEO Pak-Brunei Investment Company Limited (PBICL) gave a brief overview about the portfolio of the company and its major initiatives in Pakistan. H.H. Juland Jaifer Salim Al-Said, Chairman of the Pak Oman Investment Company Limited (POIC) lauded the initiatives taken by Government in Pakistan for stabilizing the economy.
During the meeting, the PMIC team presented a detailed overview of the microfinance landscape, highlighting key challenges and opportunities. It was noted that Pakistan significantly lags behind regional counterparts, such as Bangladesh, India, and the Philippines, in terms of financial inclusion, with a potential microcredit market of 41 million, of which only 7.4 million clients are currently served. The meeting was also attended by Governor SBP, CEO State Life Insurance Corporation (SLIC), MD Bait-ul-Mal, Secretary BISP, Secretary PA&SS, and Secretary Finance. Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees. The Finance Minister reaffirmed his commitment to regulating and encouraging this industry by adopting appropriate frameworks, laws, and incentives to ensure transparency and facilitate digital business growth. The meeting concluded on a positive note, with all parties expressing optimism about the potential for collaborative efforts to uplift Pakistan’s agriculture and livestock sectors, thereby contributing to national economic growth and prosperity.
His insights provided a valuable framework for participants to consider while shaping Pakistan’s transformation journey. To ensure data-driven discussion and effective policymaking, it was decided to form a working group comprising representatives from FBR, SBP, the IT Ministry, P@SHA, and the Freelancers Association. The group will focus on harmonizing data, identifying significant issues, simplifying processes, enhancing transparency, and ensuring continuity of progress made by SBP and other stakeholders. Participants also explored leveraging the Roshan Digital Account to facilitate international remittances for IT companies and freelancers.
