Economic reforms: Aurangzeb praises UK’s continued support

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with the British High Commissioner to Pakistan, Ms. Jane Marriott CMG OBE, who called on him at the Finance Division today. The meeting focused on Pakistan’s macroeconomic outlook, the Government’s ongoing reform agenda, and avenues for further strengthening Pakistan-United Kingdom economic and development cooperation.

The finance minister appreciated the United Kingdom’s continued support for Pakistan’s economic reforms and acknowledged the longstanding partnership between the two countries across a range of sectors, including economic governance, fiscal reforms, climate resilience, public finance, health, and social development.

The meeting reviewed Pakistan’s recent macroeconomic progress, including the successful passage of the Federal Budget 2026-27, ongoing fiscal consolidation efforts, and measures aimed at promoting sustainable economic growth while maintaining macroeconomic stability.

READ MORE: Aurangzeb discusses economic cooperation, reform agenda with British envoy

Senator Muhammad Aurangzeb highlighted the Government’s commitment to implementing structural reforms, broadening the tax base, improving public financial management, and strengthening investor confidence.

The two sides also exchanged views on Pakistan’s population management and public health initiatives. The finance minister appreciated the United Kingdom’s continued technical support in these areas, particularly its collaboration on population stabilisation interventions. He emphasised the importance of institutionalising population planning through a coordinated national framework with measurable outcomes, while drawing on international best practices to promote women’s education, workforce participation, and greater public awareness. He underscored that sustained collaboration in these areas would be critical to improving long-term human development outcomes and supporting Pakistan’s sustainable economic growth.

The finance minister highlighted the government’s strategy to deepen access to international capital markets and diversify financing sources. He noted ongoing work on sovereign financing initiatives, including international bond issuances, Sukuk, Panda Bonds, and innovative financing instruments such as the tokenisation of sovereign debt, as part of the Government’s Medium-Term Debt Management Strategy. He emphasised that continued engagement with international investors and financial institutions would remain central to Pakistan’s efforts to strengthen its external financing profile.

The meeting also reviewed ongoing reforms within the Federal Board of Revenue. The finance minister highlighted the government’s efforts to modernise tax administration through technology-driven, faceless, AI-enabled, and risk-based systems aimed at improving transparency, reducing discretionary intervention, facilitating compliant taxpayers, and enhancing revenue mobilisation.

Discussions further covered progress on the Government’s broader structural reform agenda, including energy sector reforms, privatisation of selected state-owned enterprises, and measures to improve governance, efficiency, and service delivery across public institutions. Senator Muhammad Aurangzeb reaffirmed that these reforms are essential to strengthening Pakistan’s long-term economic resilience and improving the ease of doing business.

The High Commissioner welcomed Pakistan’s progress in restoring macroeconomic stability and reiterated the United Kingdom’s continued support for Pakistan’s reform agenda. Both sides also discussed strengthening cooperation in trade, investment, financial markets, and climate resilience, while underscoring the importance of maintaining close engagement between the two countries’ public and private sectors.

The finance minister reaffirmed the Government’s commitment to further strengthening Pakistan-United Kingdom economic cooperation through sustained reforms, enhanced investment facilitation, and continued engagement with international development partners and investors. Both sides agreed to maintain close coordination to advance areas of mutual interest and further deepen the longstanding bilateral partnership.

Copyright Business Recorder, 2026