Islamabad: March, 26, 2024: Ambassador of Japan to Pakistan, H.E. Mitsuhiro Wada, called on Mr. Muhammad Aurangzeb, the Minister for Finance and Revenue, today. The Japanese Ambassador congratulated the Finance Minister on assuming the office.
The Minister for Finance & Revenue welcomed the Ambassador and stated that the Government is committed to undertake reforms to bring macroeconomic stability and sustainability. He stated that increasing the tax to GDP ratio remains a priority area. In this regard, the Government will strive to achieve end to end digitization with an aim to expand the tax base, bring transparency in the tax system and improve the client experience. He further apprised the Ambassador about energy sector reforms. While focus would be on reducing the costs in the sector but governance issues of the distribution companies will be addressed through private participation in the management and eventual privatization.
Ambassador Wada noted the commitment of the Government to continue with the implementation of prudent fiscal policies and structural reforms. He informed that presently 80 Japanese companies are operating in Pakistan. He highlighted some of the issues being faced by Japanese automakers in Pakistan. He appreciated the government’s efforts towards economic revival and expressed Japan’s continued support for Pakistan’s initiatives aimed at fostering growth and prosperity.
The Finance Minister informed that agriculture and IT sectors have demonstrated robust growth recently and the Government would make efforts to support these sectors to become growth leaders.
Concluding the meeting, both sides expressed their desire to further enhance the bilateral cooperation between Pakistan and Japan and pledged to work together towards achieving common goals for the benefit of both nations.