Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with PepsiCo’s CEO for Africa, ME & SA Mr. Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Mr. Muhammad Khosa at Finance Division today. The Finance Minister welcomed Mr. Willemsen and provided an update on Pakistan's economic progress. He highlighted recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency. The Minister attributed these positive indicators to the successful completion of the nine-month stand-by arrangement (SBA) with the IMF and mentioned that a staff-level agreement (SLA) has been reached to ensure continued economic stability. The Federal Minister also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, emphasizing the government's initiative to incorporate undertaxed and untaxed entities into the tax net. He appreciated the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth. Talking about the digitization in FBR, the Minister discussed the integrating RAAST (the digital payment system) and NADRA (the national database and registration authority) to further improve efficiency. Mr. Willemsen expressed appreciation for Pakistan's positive economic indicators and noted the growth in the financial sector. The meeting underscored the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.
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