ISLAMABAD, May 16 (APP): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb met with a delegation of the American Business Council (ABC) here on Friday.
The delegation, led by ABC President Kamran Attaullah Khan, included senior executives from leading US companies operating in Pakistan, a news release said.
Senior officers from the Finance Division and Federal Board of Revenue (FBR) were also present.
At the outset, the minister shared insights from his recent visit to Washington for the Spring Meetings of the World Bank and International Monetary Fund (IMF), where he and his team had held productive discussions with the US-Pakistan
Business Council.
He appreciated the longstanding contributions of American businesses to Pakistan’s economic development and stated,
“The scale and depth of US investment in Pakistan is both significant and valuable — and we look forward to further expanding this partnership,” the minister added.
The ABC delegation presented several proposals and raised sector-specific concerns.
Aurangzeb welcomed their input and emphasized the importance of timely submission of budget proposals, noting that “dialogue should be continuous and not confined to the budget cycle.”
He further mentioned that the government was actively working to create a more structured and predictable policy environment, with efforts underway to strengthen the Tax Policy Office and establish an Advisory Panel for ongoing consultation.
Highlighting Pakistan’s macroeconomic stabilization, the minister reiterated that the government was fully committed to staying the course on structural reforms. “If Pakistan is to break free from the boom-and-bust cycles and avoid returning to
the IMF for a 25th program, sustained reforms are imperative,” he asserted.
The minister also acknowledged the critical role of the formal sector in national revenue.
He underlined the government’s resolve to broaden the tax base, ensure enforcement across all sectors, and shift the burden away from compliant taxpayers.
“There will be no room for leakages in supply and value chains. Our aim is to formalize the economy through end-to-end digitization and FBR reforms, and we have some of the best minds working on this through the IT arm of the FBR,” he said.
On capacity building, Aurangzeb noted that while financing for reform initiatives was in place, now the need was for tactical support and technical expertise. “We need know-how more than capital in certain areas, and welcome collaboration in that regard,” he added.
The delegation thanked the minister for the candid discussion and reaffirmed their commitment to working closely with the government.
The meeting concluded on a positive note, with both sides agreeing to strengthen engagement to collectively address key economic challenges and unlock new opportunities for trade and investment.