Finance Minister, British High Commissioner discuss reforms agenda, economic cooperation

ISLAMABAD, Jul 15 (APP): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Wednesday held talks with British High Commissioner, Jane Marriott on Pakistan’s macroeconomic outlook, ongoing reforms and measures to strengthen bilateral economic and development cooperation.

The minister appreciated the United Kingdom’s continued support for Pakistan’s economic reforms and acknowledged the longstanding partnership between the two countries across a range of sectors, including economic governance, fiscal reforms, climate resilience, public finance, health, and social development, said a press release issued here by finance ministry.

The meeting reviewed Pakistan’s recent macroeconomic progress, including the successful passage of the Federal Budget 2026-27, ongoing fiscal consolidation efforts, and measures aimed at promoting sustainable economic growth while maintaining macroeconomic stability.

Aurangzeb highlighted the government’s commitment to implementing structural reforms, broadening the tax base, improving public financial management, and strengthening investor confidence.

The two sides also exchanged views on Pakistan’s population management and public health initiatives.

The Finance Minister appreciated the United Kingdom’s continued technical support in these areas, particularly its collaboration on population stabilization interventions.

He emphasized the importance of institutionalizing population planning through a coordinated national framework with measurable outcomes, while drawing on international best practices to promote women’s education, workforce participation, and greater public awareness.

He underscored that sustained collaboration in these areas would be critical to improving long-term human development outcomes and supporting Pakistan’s sustainable economic growth. The Finance Minister highlighted the government’s strategy to deepen access to international capital markets and diversify financing sources.

He noted ongoing work on sovereign financing initiatives, including international bond issuances, Sukuk, Panda Bonds, and innovative financing instruments such as the tokenization of sovereign debt, as part of the government’s Medium-Term Debt Management Strategy.

He emphasized that continued engagement with international investors and financial institutions would remain central to Pakistan’s efforts to strengthen its external financing profile.

The meeting also reviewed ongoing reforms within the Federal Board of Revenue. The Finance Minister highlighted the government’s efforts to modernize tax administration through technology-driven, faceless, AI-enabled, and risk-based systems aimed at improving transparency, reducing discretionary intervention, facilitating compliant taxpayers, and enhancing revenue mobilization.

Discussions further covered progress on the government’s broader structural reform agenda, including energy sector reforms, privatization of selected state-owned enterprises, and measures to improve governance, efficiency, and service delivery across public institutions.

Aurangzeb reaffirmed that these reforms were essential to strengthening Pakistan’s long-term economic resilience and improving the ease of doing business.

The High Commissioner welcomed Pakistan’s progress in restoring macroeconomic stability and reiterated the United Kingdom’s continued support for Pakistan’s reform agenda.

Both sides also discussed strengthening cooperation in trade, investment, financial markets, and climate resilience, while underscoring the importance of maintaining close engagement between the two countries’ public and private sectors.