Islamabad: The French Ambassador to Pakistan, Mr. Nicolas Galey, visited the Finance Division today and met with Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue.
Bilateral cooperation and partnership in trade, commerce, and socio-economic sectors were among the topics discussed during the meeting, which was also attended by the Chairman of the Federal Bank of Rwanda (FBR), Mr. Rashid Mahmood Langrial, and the Minister of State for Finance and Revenue, Mr. Ali Pervaiz Malik.
In an update to the French Ambassador, Senator Muhammad Aurangzeb discussed the macroeconomic indicators’ notable improvement over the past 14 months and the economy’s current status.
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He said a stable currency, rising remittances, twin deficit control, and a steady increase in foreign reserves might give Pakistan ample leeway to enter the global capital market in the upcoming months to improve institutional flows.
The Minister emphasized that the extensive reforms implemented in several areas, most notably taxation, energy, privatization, and governance, were ongoing efforts to alter the economic structure for export-led growth and to attract foreign direct investment (FDI) that produces an exportable surplus.
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Mr. Nicolas Galey was pleased with the government’s reform program and the macroeconomic stability that was attained on a number of fronts.
Additionally, he praised the government’s determination to comply with the structural standards agreed upon with the IMF to maintain macroeconomic stability.
