London: In a significant diplomatic engagement, Senator Muhammad Aurangzeb, Pakistan’s Federal Minister for Finance and Revenue, met with Lord Livermore, the UK’s Financial Secretary to the Treasury, in London. The meeting, attended by key officials including Pakistan’s High Commissioner to the UK, Dr. Mohammad Faisal, and Khurram Schehzad, Advisor to the Finance Minister, focused on Pakistan’s economic reform agenda and bilateral cooperation.

Senator Aurangzeb outlined Pakistan’s ongoing economic reforms aimed at diversification and export-led growth. He reported progress, noting projected Real GDP growth of 3.0% for 2025 and 4.0% for 2026. Inflation, he stated, has decreased to 0.3%, marking a historic low.

The Minister highlighted efforts to digitize Pakistan’s tax system to expand the tax base and increase revenue. He reported a 25.9% rise in tax collection from July to March in FY 2025. Additionally, Foreign Direct Investment increased by 14%, reaching USD 1.6 billion, while the policy rate dropped to 11%.

Lord Livermore praised Pakistan’s reform agenda and acknowledged its commitment to economic transformation. He noted the UK’s pursuit of reforms in pensions, skills development, and trade, signifying shared economic interests.

Senator Aurangzeb thanked the UK Treasury for its ongoing partnership, particularly through the Foreign, Commonwealth and Development Office, which has provided crucial financial and technical support. He reaffirmed Pakistan’s dedication to enhancing investment and trade relations between the two countries.