Islamabad (TDI): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb received Japanese Ambassador to Pakistan Akamatsu Shuichi on Thursday.
During the meeting, both sides discussed ongoing economic reforms, bilateral ties, and opportunities for deeper economic cooperation.
Minister Aurangzeb welcomed Akamatsu on assuming his diplomatic responsibilities in Islamabad, commending Japan’s longstanding ties with Pakistan.
Aurangzeb underlined the positive momentum in Pakistan’s macroeconomic stability, which he attributed to key reforms and structural adjustments across different sectors, including fiscal framework, taxation, Special Economic Zones, energy, rightsizing of the federal government, and privatization efforts.
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The Minister stressed that the government remains committed to continuing its reform agenda, focusing on critical issues like population growth and climate change vulnerability.
He highlighted the importance of the 10-year Country Partnership Framework inked with the World Bank, aimed at addressing these challenges and fostering sustainable, inclusive economic development.
Minister Aurangzeb reaffirmed Islamabad’s commitment to maintaining the trust and credibility of its bilateral and multilateral development partners, including Japan.
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He appreciated Japan’s diplomatic, economic, and technical assistance and urged Japanese investors to explore investment opportunities in Pakistan, especially in manufacturing and production, which would contribute to the country’s exportable surplus.
Ambassador Akamatsu acknowledged the progress made in Pakistan’s macroeconomic stability and the government’s reform efforts.
Japanese Investment in Pakistan
He provided an update on the scope of current Japanese investment in Pakistan, noting that nearly 80 Japanese companies are operating in the country, employing more than 65,000 local workers, and considerably contributing to the Pakistani economy.
Minister Aurangzeb acknowledged Japan’s valuable contributions and assured the envoy Pakistan’s continued engagement with Japanese investors to incorporate their input in the upcoming federal budget’s policy framework.
Both sides expressed a strong desire to further strengthen bilateral economic relations and explore new avenues for collaboration.
