Islamabad: The Ambassador of France to Pakistan, Nicolas Galey, met with the Minister of State for Finance & Revenue, Ali Pervaiz Malik, at the Finance Division today to discuss Pakistan’s economic progress and potential areas for collaboration.
Minister Ali Pervaiz Malik provided an overview of Pakistan’s economic achievements, highlighting positive trends such as increased foreign exchange reserves, decreased inflation, and a robust stock market, all corroborated by recent ratings from international agencies. He outlined key reforms underway, including privatization initiatives, energy sector advancements, and the restructuring of state-owned enterprises (SOEs). The discussion also covered the Federal Board of Revenue’s (FBR) digitization initiative, supported by McKinsey, aimed at enhancing tax administration and compliance. The Minister emphasized the budget for 2024-25, focusing on strategies to expand the tax base by integrating untaxed segments and encouraging non-filers to comply. Significant projects in customs and inland revenue aimed at improving digitization and operational efficiency were also discussed.
Ambassador Nicolas Galey expressed appreciation for the reforms undertaken by Pakistan and offered technical support from France in areas of mutual interest. He recognized the progress made by the Government of Pakistan in stabilizing the economy and expressed confidence in the potential for further collaboration.
Looking ahead, both parties affirmed their commitment to deepening economic relations, exploring investment opportunities, and expanding bilateral trade.