ISLAMABAD (APP – 12 August 2024): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday held a meeting with PepsiCo’s Chief Executive Officer (CEO) for Africa, Middle East (ME) and South Asia (SA) Eugene Willemsen to discuss Pakistan’s economic progress and potential collaboration opportunities.
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He was accompanied by CEO Pakistan and Afghanistan Muhammad Khosa, said a news release. The minister welcomed Willemsen and provided an update on Pakistan’s economic progress.
He also highlighted recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency.
The minister attributed these positive indicators to the successful completion of the nine-month stand-by arrangement (SBA) with the IMF and mentioned that a staff-level agreement (SLA) has been reached to ensure continued economic stability.
He also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, emphasizing the government’s initiative to incorporate under-taxed and untaxed entities into the tax net.
Muhammad Aurangzeb appreciated the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth.
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Talking about the digitization in Federal Board of Revenue (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 Pakistan’s positive economic indicators and noted the growth in the financial sector.
The meeting underscored the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.
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