Islamabad, Pakistan and Japan have solidified their commitment to enhance bilateral cooperation, with both nations agreeing to work jointly towards shared objectives that will benefit each other economically and strategically.

According to Ministry of Information and Broadcasting, this accord was reached during a meeting between the Ambassador of Japan to Pakistan, Mitsuhiro Wada, and Pakistan’s Minister for Finance, Muhammad Aurangzeb, held in Islamabad today. The Finance Minister articulated the government’s resolve to implement reforms that would ensure macroeconomic stability and sustainability, with a special focus on increasing the tax-to-GDP ratio.

Minister Aurangzeb elaborated on the government’s strategy to achieve end-to-end digitization of the tax system to broaden the tax base, enhance transparency, and improve the overall client experience. He also discussed the government’s initiatives concerning energy sector reforms, specifically aimed at cost reduction and improving governance within distribution companies.

Agriculture and IT sectors, recognized for their robust growth, were highlighted by the Minister as areas of potential development. Ambassador Wada lauded Pakistan’s efforts towards economic recovery and assured Japan’s continued support for initiatives that foster growth and prosperity. He noted the presence of 80 Japanese companies in Pakistan and brought to light some of the challenges faced by Japanese automakers in the country.

This meeting signifies a step forward in fostering a strong economic partnership between Pakistan and Japan, with both nations eager to pursue a path of collaborative growth and mutual advancement.