Renewal of GSP Plus status to Pakistan: Aurangzeb praises French govt support

ISLAMABAD: The Ambassador of France to Pakistan Nicholas Galey, called on Minister for Finance and Revenue Senator Muhammad Aurangzeb to discuss matters of mutual interests and to further strengthen the bilateral relations between Pakistan and France.

Finance Minister Aurangzeb welcomed the French ambassador and appreciated the support extended by the French government for the renewal of GSP Plus status to Pakistan.

The finance minister briefed the envoy on the steps taken by the government to stabilise the economy including notable increases in agricultural production, forex reserves reaching $9 billion, stable rupee, declining inflation, and upswing in the stock market.

He also informed the French ambassador about the successful conclusion of the second IMF review under the Standby Arrangement (SBA). The federal minister further apprised the ambassador of key reforms being undertaken by the government including privatization, SOEs reforms, FBR end-to-end digitisation, export-led growth, and energy sector reforms to bring costs down.

Moreover, the finance minister emphasized the role of the Special Investment Facilitation Council (SIFC) as a key platform for investor facilitation, streamlining processes to foster investment and economic growth.

Acknowledging the efforts of the Pakistani government, the French ambassador expressed optimism about the future trajectory of economic cooperation between Pakistan and France. The ambassador offered technical cooperation in the areas of interest for sustainable economic growth. He recognised the progress made by the government of Pakistan in stabilising the economy and expressed confidence in the potential for further collaboration.

Looking ahead, both parties affirmed their commitment to deepen economic relations, exploring investment opportunities, and expanding bilateral trade.

Copyright Business Recorder, 2024