On Friday, France and Pakistan reaffirmed their commitment to deepening economic relations by exploring investment opportunities and expanding bilateral trade. The French Ambassador to Pakistan, Mr. Nicolas Galey, met with Minister of State for Finance and Revenue Ali Pervaiz Malik at the Finance Division, according to a press release.
Minister Ali Pervaiz Malik provided an overview of Pakistan’s economic progress, highlighting positive trends such as increased foreign exchange reserves, decreased inflation, and a robust stock market, all supported by recent ratings from international agencies. He also outlined key reforms, including privatization initiatives, energy sector advancements, and the restructuring of state-owned enterprises (SOEs).
The discussion covered the Federal Board of Revenue’s (FBR) digitization initiative, supported by McKinsey, aimed at enhancing tax administration and compliance. The minister highlighted the 2024-25 budget, which focuses on expanding the tax base by integrating untaxed segments and encouraging non-filers to comply.
Significant projects in customs and inland revenue aimed at improving digitization and operational efficiency were also discussed. Ambassador Nicolas Galey appreciated Pakistan’s reforms and offered technical support from France in areas of mutual interest. He acknowledged Pakistan’s progress in stabilizing the economy and expressed confidence in the potential for further collaboration.
