Ambassador of Finland to Pakistan H.E. Mr. Hannu Ripatti called on Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb at Finance Division today. The Finance Minister welcomed Ambassador Ripatti and shared updates on Pakistan's economic performance, highlighting rise in tax collection, increased remittances, and foreign exchange reserves exceeding USD 9 billion. He emphasized the positive evaluation from international credit rating agencies, which reflect the stability of Pakistan's economic environment. The Minister also discussed the successful conclusion of the 9-month SBA with the International Monetary Fund (IMF) and the recently finalized staff-level agreement for a 37-month IMF program. Additionally, the Minister outlined ongoing initiatives, including end-to-end digitization in the Federal Board of Revenue (FBR) to broaden the tax base, reforms in the energy sector, restructuring of state-owned enterprises (SOEs), and focus on export-led growth. These initiatives are aimed at enhancing economic stability and promote long-term growth. The Finnish Ambassador expressed his appreciation for Pakistan's economic reforms and noted the improved fiscal situation of Finnish companies operating in Pakistan. The Minister thanked the Ambassador for Finland's continued support in the renewal of Pakistan's GSP Plus status, which benefits the country's export sector. The meeting underscored the strong bilateral relations between Pakistan and Finland, and the shared commitment to fostering economic stability and growth.
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