Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in crucial discussions with Mr. Mehmet Celepoglu, Executive Vice President of Oceania and South Asia PARCO, focusing on Pakistan’s economic performance and future cooperation.

According to Ministry of Finance announcement issued on 11 July 2024, Mr. Celepoglu lauded Pakistan’s economic management, specifically citing the positive effects of government policies on the business climate. The conversation also touched on the need for improved processes for sales tax refunds and documentation with the State Bank of Pakistan, a request made by the PARCO delegation to enhance operational efficiencies.

The Minister expressed his appreciation for PARCO’s business initiatives in Pakistan and acknowledged the company’s constructive feedback on economic policies. He emphasized the recent growth in Pakistan’s foreign exchange reserves and highlighted ongoing support from multilateral institutions and the IMF, aimed at bolstering economic stability. Furthermore, Senator Aurangzeb detailed government strategies aimed at increasing the tax-to-GDP ratio and expanding the tax base to foster economic growth and fiscal discipline, reinforcing the government’s commitment to supporting investment.