Finance Minister Muhammad Aurangzeb held a high-impact virtual dialogue with the Overseas Investors Chamber of Commerce and Industry (OICCI), attended by senior leadership of leading multinational companies operating in Pakistan.
Government’s Medium-Term Economic Vision
The Minister shared the Government’s medium-term economic vision, which focuses on:
- Broadening the tax base,
- Raising the tax-to-GDP ratio for long-term fiscal sustainability,
- Reinforcing macroeconomic stability through structural reforms.
He noted that changes in Pakistan Revenue Automation Limited (PRAL) have already been implemented to enhance transparency and efficiency. He also highlighted the potential for private sector participation in data-driven enforcement.
Additionally, the Minister shared that global investors, during his recent US visit, expressed confidence in Pakistan’s pace of turnaround and encouraged the Government to sustain its reform momentum.
Commitment to Equitable Tax Regime and Economic Growth
Finance Minister Muhammad Aurangzeb reaffirmed the Government’s resolve, stating:
“We are committed to implementing reforms that will enable a more equitable tax regime, encourage investment, and position Pakistan on a trajectory of inclusive and sustained economic growth.”
OICCI Leadership Expresses Support for Government’s Economic Direction
President OICCI Yousaf Hussain stated:
“We fully support the Government’s economic direction and medium-term commitment to building a sustainable and resilient growth model with a particular emphasis on export expansion, localization of inputs, and structural reforms focused on competitiveness and production efficiency.”
Chief Executive and Secretary General of OICCI M. Abdul Aleem added:
“We appreciate Finance Minister Muhammad Aurangzeb’s recent engagements in Washington and his effective outreach to global stakeholders. These efforts and the Government’s steady articulation of a medium-term strategy focused on structural reforms, fiscal discipline, and sustainable growth send a strong and encouraging signal to the business community.”
Key Attendees and Industry Queries
The meeting was also attended by:
- CEOs of OICCI member companies,
- FBR member Policy,
- FBR member Customs.
The CEOs of OICCI member companies raised specific concerns, including:
- Sales tax anomalies affecting oil refineries,
- Other tax enforcement-related issues in Pakistan.
Conclusion: Strengthening Public-Private Collaboration
The meeting concluded with a shared commitment to deeper public-private collaboration for sustainable economic growth.