ISLAMABAD: The Ambassador of France to Pakistan, Mr. Nicolas Galey, met with Minister of State for Finance & Revenue, Mr. Ali Pervaiz Malik, at the Finance Division.
Minister Ali Pervaiz Malik provided an overview of Pakistan’s economic progress, highlighting positive trends such as increased foreign exchange reserves, decreased inflation, and a robust stock market, all corroborated by recent ratings from international agencies. He outlined key reforms underway, including privatization initiatives, advancements in the energy sector, and restructuring of state-owned enterprises (SOEs).
The discussion also covered the Federal Board of Revenue’s (FBR) digitization initiative, supported by McKinsey, aimed at enhancing tax administration and compliance. The Minister of State emphasized the budget for 2024-25, focusing on strategies to expand the tax base by integrating untaxed segments and encouraging non-filers to comply. Significant projects in customs and inland revenue aimed at improving digitization and operational efficiency were also discussed.
Ambassador Nicolas Galey expressed appreciation for the reforms undertaken by Pakistan and offered technical support from France in areas of mutual interest. He acknowledged the progress made by the Government of Pakistan in stabilizing the economy and expressed confidence in the potential for further collaboration. Both parties affirmed their commitment to deepen economic relations, explore investment opportunities, and expand bilateral trade.
