Pakistan and Germany reinforce their relationship to enhance investment.
On Wednesday, Pakistan and Germany reaffirmed their robust and enduring collaboration, emphasizing their mutual commitment to sustaining close coordination and constructive conversation to facilitate economic reforms, boost investment, and enhance mutually advantageous cooperation.
Ms. Ina Lepel, Ambassador of the Federal Republic of Germany to Pakistan, met with Minister for Finance and Revenue Senator Muhammad Aurangzeb to discuss enhancing bilateral cooperation, according to a press statement from the Ministry of Finance.
The discussion assessed the current status of Pakistan-Germany economic relations and emphasized the necessity of continuous engagement to enhance bilateral cooperation in trade, investment, and development. Both parties reiterated their mutual dedication to enhancing economic relations and fostering a stable, transparent, and predictable business environment conducive to long-term growth.
The minister delineated the government’s comprehensive economic perspective and reform priorities, underscoring the significance of macroeconomic stability, fiscal sustainability, and growth driven by competitiveness.
He articulated viewpoints on current initiatives to facilitate economic recovery, enhance export capabilities, and bolster resilience to external shocks, while sustaining progress on structural changes designed to ensure inclusive and sustainable development.
The discussions addressed the Government’s plan for revenue and taxation reform, focusing on expanding the tax base, improving compliance, and increasing efficiency using technological and data-driven methods.
The Minister emphasized that the changes aim to enhance equity, mitigate distortions, and establish a level playing field for all economic participants, while fostering investment and formal economic activity.
The Ambassador endorsed the ongoing reform initiatives and provided broad insights from interactions with the business sector, emphasizing the necessity of clarity, consistency, and productive communication among stakeholders and public institutions. Both parties underscored the importance of sustained interaction to guarantee that policy goals are comprehended and that execution remains consistent with economic expansion and investor trust.
The Finance Minister emphasized the current administrative and institutional initiatives aimed at fortifying tax administration, augmenting service delivery, and increasing transparency.
The discourse highlighted the significance of consistent procedures, prompt resolution of issues, and ongoing modernization of technology to ensure compliance and promote company operations.
The discussion addressed the wider regional and global economic landscape, acknowledging common problems and opportunities stemming from global uncertainties. Both parties emphasized the significance of collaboration, policy consistency, and reciprocal comprehension in addressing these dynamics and promoting lasting economic results.