US Envoy Lauds Pakistan’s Bold Reforms in Taxation, Energy Sector
Federal Finance and Revenue Minister Muhammad Aurangzeb has reiterated the government’s commitment to broad-based reforms in taxation, energy, and state-owned enterprises (SOEs).
In a meeting at the Finance Division, US Ambassador Donald Blome praised Pakistan’s efforts to improve macroeconomic stability and commended the government’s initiation of challenging reforms in the taxation and energy sectors. Ambassador Blome reaffirmed his commitment to enhancing bilateral cooperation in technical and development initiatives and promoting high-quality US investment to drive Pakistan’s economic growth.
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Minister Aurangzeb emphasized the government’s dedication to raising the country’s tax-to-GDP ratio to 13.5 percent by addressing tax leakages and incorporating untaxed sectors into the tax net. He highlighted the comprehensive transformation plan for the Federal Board of Revenue (FBR), approved by Prime Minister Shehbaz Sharif, which includes bringing experts onto the Board of PRAL (the IT arm of FBR).
The Finance Minister acknowledged the ongoing nature of macroeconomic reforms and pointed to serious challenges like climate change and child stunting that threaten to perpetuate inequalities and hinder economic growth and stability in Pakistan. He expressed Pakistan’s intention to build climate resilience through adaptation reforms and combat malnutrition with the technical and financial support of development partners, aiming for holistic development goals.
