ISLAMABAD: Finance Minister Muhammad Aurangzeb and the Chinese ambassador have convened to fortify economic ties between their nations, signaling a renewed commitment to bilateral cooperation. The meeting, held in Islamabad, served as a platform for both leaders to discuss strategies aimed at deepening economic collaboration across various sectors.
During the meeting, the Chinese envoy extended warm congratulations to Aurangzeb on assuming the role of finance minister, underscoring the importance of collaboration between Pakistan and China in fostering economic development. Both leaders engaged in comprehensive discussions aimed at deepening bilateral relations and enhancing economic cooperation across various sectors.
The finance minister emphasized the paramount importance of the China-Pakistan Economic Corridor (CPEC) in Pakistan’s growth strategy and overall economic recovery.
Both sides agreed to advance their collaboration in various sectors, including industrial zones, agriculture, mineral and mining, as well as renewable energy. It was discussed that the next phase of CPEC would focus on monetizing gains made during the first phase.
In recent statements, Aurangzeb articulated Pakistan’s ambition to secure the largest and most extended program from the International Monetary Fund (IMF) in its history, reflecting a proactive approach towards economic stability and growth.
Aurangzeb emphasized the significance of pursuing a program commensurate with Pakistan’s quota, affirming a commitment to fostering economic discipline within the framework of the IMF program.
He reiterated the government’s steadfast dedication to economic improvement, citing Prime Minister Shehbaz Sharif’s unwavering commitment to maintaining fiscal discipline and implementing strategic economic policies.
Regarding the ongoing IMF loan program, Aurangzeb assured that there are no significant impediments to securing the final installment, with the IMF slated to disburse $1.1 billion in the last tranche.
Aurangzeb underscored the imperative of drafting an initial outline for a new IMF loan program, emphasizing the shared goal of economic stability between the IMF and the Pakistani government.
Furthermore, he commended the efforts of the previous caretaker government in bolstering the economy, particularly lauding the diligent management of privatization affairs by Fawad Hasan Fawad.
In addition, Aurangzeb expressed a keen interest in transitioning towards a digital tax revenue collection system, citing transparency in taxation as a cornerstone of the government’s economic agenda.
