Reflection of economic stability: Finance minister alludes to global rating agencies

ISLAMABAD: Finland Ambassador Hannu Ripatti called on Finance Minister Muhammad Aurangzeb in Islamabad Wednesday.

The Finance Minister welcomed the Finnish Ambassador and shared updates on Pakistan’s economic performance, highlighting rise in tax collection, increased remittances and foreign exchange reserves exceeding nine billion dollars.

He emphasised the positive evaluation from international credit rating agencies, which reflect the stability of Pakistan’s economic environment.

Loan rollovers will take place this month: Aurangzeb

The Minister also discussed the successful conclusion of the 9-month SBA with the International Monetary Fund and the recently finalised staff-level agreement for a 37-month IMF program.

Additionally, the Minister outlined ongoing initiatives, including end-to-end digitisation in the Federal Board of Revenue to broaden the tax base, reforms in the energy sector, restructuring of state-owned enterprises, 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.