Islamabad: Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to fostering a supportive business environment for both domestic and foreign investors. He conveyed this during a meeting with a high-level delegation from the US-Pakistan Business Council, led by its Vice President Esperanza Jelalian.
According to Radio Pakistan, the delegation included prominent American investors from leading businesses that are either operating in or exploring opportunities within Pakistan. The Finance Minister expressed appreciation for the US companies’ interest and investment in Pakistan, highlighting their participation in the recently held Pakistan Minerals Forum.
He emphasized the significant potential for expanding economic cooperation between Pakistan and the United States, especially in sectors such as energy, minerals, agriculture, and digital services. During the meeting, the Minister informed the delegation of the government’s ongoing review of policy suggestions, including those related to the taxation regime, which have been submitted by industry bodies and business forums as part of the consultative process for the upcoming federal budget.
Recalling his recent visit to the United States for the World Bank/IMF Spring Meetings, Minister Aurangzeb noted that the feedback from stakeholders was overwhelmingly positive, indicating strong support for Pakistan’s macroeconomic stability and structural reforms. The meeting concluded with a shared commitment to enhancing bilateral trade and investment ties between the two nations.
Meanwhile, a separate delegation comprising CEOs of Pakistan’s leading oil refineries met with Minister Aurangzeb in Islamabad. They discussed their upcoming investment plans, which include multi-billion-dollar plant upgrades aimed at increasing domestic production capacity for petrol and diesel. The delegation emphasized that these upgrades could potentially save the country one billion dollars annually in foreign exchange by reducing reliance on imported refined fuels.
The Finance Minister acknowledged the refining sector’s role in bolstering Pakistan’s energy security and reducing the import bill. He assured the delegation that the government would address their concerns regarding sales tax exemptions in a manner that supports the continued growth and modernization of the domestic refining industry.