Farkhund Yousafzai
Islamabad, 12 August 2024 (TDI): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday held a meeting with PepsiCo’s CEO for Africa, ME & SA Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Muhammad Khosa.
The Finance Minister welcomed Willemsen and provided an update on Pakistan’s economic progress.
He underlined recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency.
The minister attributed these positive indicators to the successful completion of the 9-month stand-by arrangement with the IMF and mentioned that a staff-level agreement has been reached to ensure continued economic stability.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb had a meeting with PepsiCo’s CEO for Africa, ME & SA Mr. Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Mr. Muhammad Khosa. pic.twitter.com/UXNGa02151
— Ministry of Finance, Government of Pakistan (@Financegovpk) August 12, 2024
He also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, stressing the government’s initiative to incorporate undertaxed and untaxed entities into the tax net.
He commended the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth.
Talking about the digitization in FBR, the minister discussed the integrating RAAST (the digital payment system) and NADRA (the national database and registration authority) to further improve efficiency.
Willemsen expressed appreciation for the positive economic indicators of Pakistan and noted the growth in the financial sector.
The meeting highlighted the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.
