Islamabad: Minister for Finance Senator Muhammad Aurangzeb has stated that despite global uncertainties and regional challenges, the government remains committed to maintaining macroeconomic stability and pursuing structural reforms to support sustainable growth. He made these remarks during a meeting with a delegation of the American Business Forum, led by its President Osman Khalid Waheed, in Islamabad.
According to Radio Pakistan, the Finance Minister welcomed the delegation and briefed participants on Pakistan's improving macroeconomic outlook. He highlighted progress on the fiscal and external fronts and reported constructive engagement with international financial institutions and development partners. The Minister discussed ongoing government efforts to manage energy sector challenges, strengthen supply chains, and ensure effective coordination across key ministries through a high-level committee chaired by him. He emphasized continuous monitoring of developments and engagement with both domestic and international stakeholders to safeguard economic stability.
Members of the American Business Forum appreciated the government's reform agenda and shared proposals aimed at improving the overall business environment. Discussions covered key areas such as tax policy rationalization, reduction in compliance burden, incentivization of exports, and facilitation of foreign exchange inflows. The delegation stressed the need for predictable and consistent policies to encourage long-term investment.
Sector-specific issues were also addressed. Representatives from the pharmaceutical sector highlighted potential export growth with regulatory reforms, noting the industry's capacity to expand exports significantly. They advocated for modernized regulations and consistent pricing decisions. Participants from the IT and services sectors called for measures to facilitate foreign exchange retention and incentivize export-oriented growth. They raised issues related to digital payments, corporate card usage, and taxation of cross-border transactions, urging for streamlined processes to support digitalization and ease of doing business.
The delegation shared a range of proposals related to tax policy and the business environment, including insights on tax structure, incentives, and administrative processes. They emphasized the need for continued reforms in customs and tax administration, along with improvements in digital systems and procedural efficiency to facilitate ease of doing business.
Senator Aurangzeb acknowledged the valuable input provided by the delegation and reiterated the government's commitment to fostering a business-friendly environment. He assured participants that many proposals are under consideration and that the upcoming budget would reflect a clear direction toward tax rationalization and regulatory reforms. The Finance Minister emphasized alignment of policy-making with broader economic value considerations, focusing on promoting exports, encouraging investment, and ensuring long-term sustainability. Efforts to separate tax policy from revenue collection functions to improve transparency and efficiency were also highlighted.
Both sides agreed to maintain close engagement and continue dialogue to support Pakistan's economic transformation and attract increased foreign investment. The Finance Minister invited the Forum to share further actionable proposals, especially in light of emerging regional opportunities, to help position Pakistan as a competitive investment destination.