Canadian High Commissioner, Pakistan’s Finance Minister Discuss Economic Cooperation

Wed May 22 2024
icon-facebook icon-twitter icon-whatsapp

ISLAMABAD: Canadian High Commissioner to Pakistan Leslie Scanlon called on Pakistan’s Federal Minister for Finance & Revenue Muhammad Aurangzeb in Islamabad on Wednesday to discuss bilateral relations and matters of mutual interest, especially economic issues.

The minister welcomed the Canadian High Commissioner and informed her about the successful completion of the 9-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF). He said that Pakistan is currently in talks with the IMF mission for further engagement.

Aurangzeb also apprised the High Commissioner about the Pakistan government’s key priority reform areas including tax-to-GDP ratio by bringing untaxed segments into the tax net, administrative reforms, and end-to-end digitalization. He said that the consultants have been engaged in this regard.

Privatization Initiatives in Pakistan

The minister said that the privatization initiatives affirmed Prime Minister Shehbaz Sharif’s commitment to privatize State-Owned Enterprises (SOEs). He added that a positive response has been received from local and international investors for the privatization of Pakistan International Airlines (PIA).

He also explained the complex energy equation, informing that DISCO boards have been reconstituted with the subject matter experts from the private sector, to enhance their efficiency.

Moreover, 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 Scanlon recognized the efforts of the government to improve Pakistan’s economy.

While expressing hope for the economic growth and stability in Pakistan, she assured that the Canadian government will continue to support the socio-economic development of the country.

icon-facebook icon-twitter icon-whatsapp