Islamabad, In a notable diplomatic engagement, H.E. Mitsuhiro Wada, the Ambassador of Japan to Pakistan, met with Pakistan’s Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, to discuss ongoing economic reforms and bilateral cooperation. The meeting, which took place today, highlighted the mutual interest of both nations in fostering economic stability and growth through strategic reforms and international cooperation.

According to Press Information Department, Ambassador Wada commenced the meeting by congratulating Minister Aurangzeb on his appointment, setting a positive tone for discussions on Pakistan’s economic strategies and reforms. Minister Aurangzeb outlined the government’s commitment to achieving macroeconomic stability, emphasizing the priority to increase the tax-to-GDP ratio through comprehensive digitization efforts aimed at expanding the tax base and enhancing transparency and client service within the tax system.

The Finance Minister also briefed the Ambassador on the proposed energy sector reforms, focusing on reducing operational costs and addressing governance issues through private management participation and eventual privatization of distribution companies. Ambassador Wada acknowledged the Pakistani government’s dedication to maintaining prudent fiscal policies and structural reforms, noting the presence of 80 Japanese companies currently operating in Pakistan. He discussed some challenges faced by Japanese automakers in the country, appreciating the government’s efforts towards economic revival.

Minister Aurangzeb highlighted the significant growth observed in the agriculture and IT sectors, indicating the government’s plans to support these sectors as potential leaders in Pakistan’s economic growth. The meeting concluded with both parties expressing a keen interest in deepening bilateral relations between Pakistan and Japan, committing to work collaboratively towards shared objectives that would benefit both countries.