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Pakistan, Japan reaffirm to enhance bilateral cooperation

ISLAMABAD: Pakistan and Japan have reaffirmed to further enhance their bilateral cooperation by working together towards achieving the common goals for their mutual benefit.

The understanding was reached during a meeting between the Ambassador of Japan to Pakistan Mitsuhiro Wada and Minister for Finance Muhammad Aurangzeb here in Islamabad on Tuesday.

Speaking on the occasion, the Minister said the government is committed to undertake reforms to bring macroeconomic stability and sustainability and increasing tax to GDP ratio remains a priority area.

He underlined that the government would strive to achieve end to end digitization to expand the tax base, bring transparency in the tax system and improve the client experience.

Apprising the Ambassador of energy sector reforms, the Minister said our focus will be on reducing the costs in the sector and addressing the governance issues of the distribution companies.

He underscored the robust growth demonstrated by agriculture and IT sectors. The Ambassador appreciated Pakistan’s efforts towards economic revival and expressed Japan’s continued support for initiatives aimed at fostering growth and prosperity.

He informed the Minister that 80 Japanese companies are currently operating in Pakistan. He also highlighted some issues being faced by Japanese automakers in Pakistan.