ISLAMABAD: Federal Minister for Finance, Muhammad Aurangzeb on Tuesday Chaired steering Committee of the Foreign, Commonwealth and Development Office’s (FCDO) Revenue Mobilisation, Investment and Trade (REMIT) Programme to review Progress on key economic reforms.
The meeting was co-chaired by Ms Jane Marriott, the British High Commissioner to Pakistan, said a release issued here.
The session brought together senior officials from the Ministry of Finance, Federal Board of Revenue (FBR), Ministry of Commerce, officials from stakeholder ministries and departments, as well as representatives from the British High Commission and the FCDO.
During the meeting, updates were shared on various initiatives under REMIT’s support in multiple areas, including technical assistance to Pakistan for the implementation of IMF commitments, progress on GST harmonization, climate and disaster budget tagging in the provinces, regulatory reforms at the provincial level, trade liberalization, industrial policy, and effective communication of economic reforms.
The Finance Minister appreciated the progress made on reform initiatives across the taxation, investment, trade, and macroeconomic portfolios.
He particularly commended the work on Compliance Risk Management and the steps taken to improve the taxpayers’ interface with the Federal Board of Revenue (FBR), as well as the regulatory and tariff reforms that will help drive Pakistan’s economic growth.
He also highlighted the importance of a coordinated short, medium, and long-term approach to attracting investment to Pakistan as a direct outcome of the ongoing economic reform efforts.
The Finance Minister stressed the vital importance of establishing an enabling and conducive regulatory environment to instill confidence among both local and international investors seeking to invest in Pakistan.
He observed that investors primarily look for reduced taxation, lower energy costs, affordable financing, and supportive regulatory frameworks.
While the government is making determined efforts to address challenges related to taxation, energy, and financing, he noted that creating a facilitative and business-friendly regulatory environment is comparatively easier, as it lies within our own control and can be achieved through commitment, diligence, and sincerity of purpose.
Ms Jane Marriott reaffirmed the UK Government’s commitment to supporting Pakistan in achieving its economic reform objectives, emphasizing that the REMIT Programme remains a key platform for advancing fiscal, trade, and investment reforms in close collaboration with federal and provincial stakeholders.
The meeting concluded with both sides reaffirming their commitment to continued collaboration under the REMIT Programme to strengthen Pakistan’s economic foundations and to accelerate reforms that will lead to sustainable economic growth.
