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[Beverly Zielonko]

FederalMinister for Finance & Revenue Senator Muhammad Aurangzeb chaired the first steering committee of the FCDO- funded Revenue Mobilisation, Investment and Trade (REMIT) programme. British High Commissioner, Jane Marriot co-chaired the meeting. The meeting was attended by Deputy Chairman of the Planning Commission, Dr. Jehanzeb Khan and senior government officials.

Reviewing the work done by the programme in the areas of revenue mobilisation, investment climate, macroeconomic governance and trade, with cross-cutting themes of gender and climate change, the Minister appreciated the overall progress to date and also emphasized the need for government stakeholders to be more proactive in taking up implementation. He added that the government intends to take up short, medium and long-term initiatives to ensure the economic revival of Pakistan. He emphasized that the government's focus on inclusive economic growth can be complemented by the support of development partners with a focus on performance and implementation.

Jane Marriott, thanked the minister for his interest in the programme interventions and commitment to reform that will take Pakistan forward. She assured of FCDO's full support to the government on high priority areas.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb was called on by the representatives of Pakistan Mobile Phone Manufacturers Association (PMPMA) at the Finance Division today. Senior officials from the relevant ministries attended the meeting.

The PMPMA delegation thanked the Finance Minister and highlighted the necessity for a stable and supportive policy environment that encourages local manufacturers. They advocated for measures to ensure that international brands support the domestic industry and consequently, the national economy. The delegation also presented proposals aimed at promoting the growth of the local industry and increasing the exports of the mobile phone manufacturing industry.

The meeting concluded with a mutual agreement on the need for a strategic and supportive policy framework aimed at fostering local manufacturing and enhancing export potential, thereby contributing to the broader goals of national economic growth and digital transformation.

The delegation from British International Investment appreciated the Government's initiatives to stabilize the economy and enhance the investment environment, they also expressed interest in investing in the energy sector, particularly in improving transmission system. The Federal Minister encouraged the delegation to engage with the Special Investment Facilitation Council (SIFC), highlighting it as a pragmatic platform that attracts foreign investments and provides a streamlined process for investors.

The Spanish Ambassador appreciated Pakistan's macroeconomic stability and the Government's efforts towards the economic reform process for sustainable economic growth. He urged the Government of Pakistan to enhance value addition in exports, emphasizing the potential for deeper collaboration between Spain and Pakistan in value added sectors.

Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb met the Executive Vice President Oceania & South Asia PARCO Mr. Mehmet Celepoglu accompanied by CEO & MD Total PARCO Mr. Asif Iqbal at the Ministry of Finance today.

The key stakeholders from the telecommunication sector and regulatory authorities briefed the Finance Minister on strategic plans for the allocation and utilization of the IMT spectrum. It was mentioned that the release of this spectrum is expected to significantly improve connectivity, enhance internet speeds, and meet the increasing demand for high-quality data services. The auction process, technical specifications, and the timeline for the spectrum release were discussed in the meeting. The Advisory Committee also considered the way forward to promote technological advancements and create an environment conducive to investment and growth in the telecommunications sector.

Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb was called on by the Representatives of Rice Exporters Associations of Pakistan (REAP) at Finance Division today. Member-Custom Policy FBR and Member-IR Policy also attended the meeting.

Representatives from REAP thanked the Finance Minister and briefed on the growth of agriculture sector particularly rice crop. They highlighted the strengths of their sector and presented some tax measures for consideration.

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 Minister emphasized the importance of enhancing rice yields for improved quality and value addition. He assured exporters of the Government's support, encouraging them to persist in their efforts to further strengthen Pakistan's position in the global market.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb presided over the fourth meeting of the Governing Council (GC) of Pakistan Single Window (PSW) at Finance Division today. Secretary Commerce, Chairman FBR, Secretary to the Governing Council/Member Customs FBR, CEO PSW, experts from PSW GC and senior officers from other ministries attended the meeting.

The Secretary to the Governing Council updated the Finance Minister on the implementation status of decisions taken in the last meeting. CEO PSW presented a comprehensive overview of the PSW system's implementation and the execution of directives issued by the Governing Council. He provided the details of ongoing PSW projects, outlined performance benchmarks, and mentioned challenges encountered in implementation, requesting necessary interventions.

Acknowledging the efforts of PSW, the Finance Minister directed them to expedite the process of implementation. He underscored the need to ensure the involvement of all stakeholders including provinces and prioritize the security of the system. Furthermore, the Federal Minister reaffirmed the Government's support for the reforms initiated under the PSW program and directed PSW to strengthen its outreach to facilitate the trade and business activities across Pakistan.

Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb was called on by the Chairman Nestle Pakistan Syed Yawar Ali and Ex-President Farmers Association of Pakistan Mr. Afaq Ahmed Tiwana in Finance Division today. Minister of State for Finance and Revenue Mr. Ali Pervaiz Malik and Member-IR Policy FBR also joined the meeting.

The meeting focused on exploring avenues for enhancing the growth of Pakistan's agriculture and livestock sectors. Syed Yawar Ali shared insights on the current state of these sectors and emphasized their potential to significantly increase yield productivity and exports. He and Mr. Afaq Ahmed Tiwana conveyed their appreciation to the Government for prioritizing agriculture and livestock in its policy framework. They proposed the establishment of a dedicated body tasked with formulating evidence-based policies to foster sectoral growth and exports, leveraging input from professionals and research experts.

Senator Muhammad Aurangzeb thanked the delegation for their constructive proposals. He underscored the Government's commitment to supporting these vital sectors through enhanced financing mechanisms. The Minister assured that relevant ministries would be consulted to consider the proposed framework, aiming to translate it into actionable policies that drive tangible results.

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.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb was called on by the President and CEO of Pak Matiari-Lahore Transmission Company (PMLTC) Ms. Zhang Lei accompanied by Deputy CEO Mr. Ma Desheng and CFO Mr. Wang Bo at Finance Division today.

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. She provided an overview of China Electric Power Equipment and Technology Co. Ltd. (CET) and its ongoing projects in several countries. 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).

The Finance Minister acknowledged the contributions of PMLTC to infrastructure development and assured the delegation of required support through relevant government channels. He highlighted the importance of successfully concluding the IMF program to bolster foreign exchange reserves and underscored the ongoing reforms in Pakistan's power sector.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb had a meeting with the Founder & Chairman Delivery Associates Sir Michael Barber at Finance Division today. The meeting was also attended by Development Director British High Commission Ms. Jo Moir, Senior Governance Advisor Mr. Matt Clancy, Governance Advisor BHC Mr. Naveed Aziz, Senior Economic Advisor Mr. Louie Dane and officials from Finance Division.

Sir Michael Barber appreciated the Federal Budget 2024-25 and the structural reforms in taxation implemented by the Government of Pakistan. Recognizing the challenges involved, he discussed the priority areas of Pakistan's homegrown economic plan. Sir Michael reaffirmed the commitment to continuing support, building on previous collaborative efforts with Pakistan.

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