ISLAMABAD: Canadian High Commissioner to Pakistan Leslie Scanlon called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and discussed economic reforms and investment opportunities. The minister welcomed the Canadian High Commissioner and informed her about the successful completion of the nine-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF), a news release said.
The government is currently in talks with the International Monetary Fund (IMF) mission for further engagement, the minister said. Aurangzeb also apprised the High Commissioner about the government’s key priority reform areas that include tax-to-Gross Domestic Product (GDP) ratio by bringing untaxed segments into the tax net, end to end digitalization and administrative reforms adding that the consultants have been engaged in this regard. He said the privatization initiatives affirmed the Prime Minister’s commitment to privatize State-Owned Enterprises (SOEs).
A positive response has been received from local and foreign investors for privatization of Pakistan International Airlines (PIA), he added. The minister also explained the complex energy equation, informing that DISCO boards have been reconstituted with the subject matter experts from private sector, to increase their efficiency.
The minister emphasized the role of the Special Investment Facilitation Council (SIFC) as a pragmatic single-window platform, designed to streamline investment processes and attract foreign investments. The High Commissioner Ms. Scanlon recognized efforts of the government to improve the country’s economy. While expressing hope for the economic growth and stability in the country, she assured that the Canadian government will continue to support the socio-economic development of Pakistan.
