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New Govt is Fully Prepared to Tackle Economic Challenges, FM

Abassador of the United States to Pakistan, H.E. Mr. Donald Blome, meets Minister for Finance & Revenue, Mr. Muhammad Aurangzeb

Finance & Revenue Muhammad Aurangzeb Minister Aurangzeb says new government is fully prepared to tackle the economic challenges and is determined to bring about macroeconomic stability in the country.

He reiterated the government’s commitment to completing the ongoing IMF program and continuing the economic reform process initiated under the Extended Fund Facility (EFF) 2019 and Stand-By Arrangement (SBA) 2023, with a focus on achieving fiscal and debt sustainability, social protection, and rebuilding foreign exchange reserves.

He was talking to the Ambassador of the US, Mr. Donald Blome, who extended felicitations to Muhammad Aurangzeb upon his appointment as Minister for Finance and Revenue and conveyed confidence towards further strengthening of economic ties between the two countries.

The Minister Muhammad Aurangzeb warmly welcomed Donald Blome and underscored the significance of Pakistan-US bilateral relations, highlighting their importance at political, economic, and security levels.

Highlighting the priority areas for reforms, Minister Aurangzeb outlined the the government’s foremost priority of bringing reforms in the Federal Board of Revenue (FBR) to prevent revenue leakages through end-to-end digitization, enhancing the State-Owned Enterprise (SOE) reforms, strengthening social protection measures, improving public financial management, implementing energy sector reforms, removing distortionary subsidies, and fostering private sector-led economic growth. Recognizing the United States as one of Pakistan’s largest trading partners and a significant source of foreign direct investment, Minister Aurangzeb expressed appreciation for the economic ties between the two nations.

Ambassador of the United States to Pakistan, Mr. Donald Blome, paid a courtesy visit to the Minister for Finance & Revenue Muhammad Aurangzeb at the Finance Division today, to discuss important matters related to bilateral cooperation and mutual interests between Pakistan and the United States.

Ambassador Blome congratulated the Government on positive steps taken so far that resulted in visibly positive signs in the economy and hoped that it would help further stabilise the economy.

Concluding the meeting, both sides acknowledged the critical nature of the relationship between Pakistan and the United States and expressed the desire to continue enhancing bilateral relations between the two countries.

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