Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in strategic discussions with PepsiCo’s top executives today, focusing on Pakistan’s economic landscape and potential areas of collaboration. The meeting, which took place at the Finance Division, included PepsiCo’s CEO for Africa, ME and SA, Mr. Eugene Willemsen, and the CEO for Pakistan and Afghanistan, Mr. Muhammad Khosa.

According to Press Information Department, the Finance Minister updated the executives on Pakistan’s economic progress, citing increased foreign exchange reserves, decreased inflation, and currency stabilization. These improvements, he noted, stemmed from the successful completion of a nine-month stand-by arrangement with the International Monetary Fund (IMF) and a newly reached staff-level agreement to maintain economic stability.

Minister Aurangzeb also outlined ongoing reforms in the energy sector, state-owned enterprises, and taxation, particularly the government’s efforts to widen the tax net to include previously undertaxed and untaxed entities. He highlighted the positive impact of PepsiCo’s seed lab initiative on Pakistan’s agricultural development and overall economic growth.

The discussion also touched on the integration of digital technologies in government processes, with the Minister noting advancements in incorporating RAAST (Pakistan’s digital payment system) and NADRA (the national database and registration authority) to enhance administrative efficiency.

Mr. Willemsen expressed his appreciation for Pakistan’s positive economic trajectory and acknowledged the growth opportunities within the country’s financial sector. The meeting concluded with a mutual commitment to explore further collaborative opportunities, reinforcing PepsiCo’s interest in contributing to Pakistan’s economic development.