Islamabad: The Ambassador of France to Pakistan, Mr. Nicolas Galey, met with Pakistan’s Minister of State for Finance and Revenue, Mr. Ali Pervaiz Malik, to discuss economic reforms and potential investment opportunities between the two countries.

According to Ministry of Finance announcement issued on 02 August 2024, the meeting took place at the Finance Division, where Minister Malik outlined Pakistan’s economic progress. He noted the increase in foreign exchange reserves, a decrease in inflation, and strength in the stock market, verified by recent international ratings. The minister detailed ongoing reforms, including privatization, energy sector advancements, and restructuring of state-owned enterprises. He also discussed the Federal Board of Revenue’s digitization efforts, supported by McKinsey, aimed at improving tax administration and compliance. The 2024-25 budget’s focus on expanding the tax base and integrating untaxed segments was a key topic, alongside enhancements in customs and inland revenue operations.

Ambassador Galey acknowledged the significant reforms undertaken by Pakistan and offered French technical support in areas of mutual interest. He expressed confidence in the ongoing economic stabilization and the prospects for enhanced bilateral economic and trade relations.

Both parties confirmed their commitment to deepen economic ties, explore new investment avenues, and expand bilateral trade, highlighting a forward-looking agenda for Franco-Pakistani collaboration.