ISLAMABAD: On Wednesday, Finance Minister Muhammad Aurangzeb met with Finnish Ambassador Hannu Ripatti in Islamabad.
During the meeting, Minister Aurangzeb updated the Ambassador on Pakistan’s economic progress, noting improvements such as a rise in tax collection, increased remittances, and foreign exchange reserves surpassing nine billion dollars. He highlighted the positive evaluations from international credit rating agencies, reflecting Pakistan’s stable economic environment.
The Minister also mentioned the upcoming loan rollovers and discussed the successful completion of a 9-month Standby Arrangement (SBA) with the International Monetary Fund (IMF). He highlighted the recent staff-level agreement for a 37-month IMF program and outlined ongoing initiatives, including end-to-end digitisation of the Federal Board of Revenue, energy sector reforms, restructuring of state-owned enterprises, and a focus on export-led growth. These efforts aim to bolster economic stability and promote long-term growth.
Ambassador Ripatti expressed appreciation for Pakistan’s economic reforms and noted the improved fiscal conditions for Finnish companies operating in Pakistan. He also acknowledged Pakistan’s progress in renewing its GSP Plus status, which benefits the country’s export sector.
The meeting underscored the strong bilateral relations between Pakistan and Finland and both parties’ commitment to fostering economic stability and growth.
