Islamabad, 24 October 2025(News Desk): H.E. Ms. Jane Marriott CMG OBE, British High Commissioner to Pakistan, called on Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division today. The Finance Minister welcomed the High Commissioner and expressed appreciation for the United Kingdom’s longstanding development partnership with Pakistan. He conveyed gratitude to the UK Government for its continued support, particularly in the areas of digitalization, public financial management, climate resilience, and technical assistance. Recalling his recent meeting with Baroness Jenny Chapman, UK Minister for International Development and Africa, in Washington D.C., the Finance Minister acknowledged the UK’s valuable contributions, including support for the Digital Dashboard initiative and climate-related programmes. Briefing the High Commissioner on Pakistan’s ongoing macroeconomic reforms, the Minister stated that after a period of stabilization, Pakistan had transitioned towards economic consolidation. He noted that all three global rating agencies had upgraded Pakistan’s outlook for the first time in three years, reflecting growing confidence in the country’s economic trajectory.
The Minister highlighted that the recent staff-level agreement with the IMF, along with extensive engagement with international financial institutions, investors, and bilateral partners, underscored the strong external validation of Pakistan’s reform momentum. Senator Aurangzeb reaffirmed the Government’s commitment to ensuring macroeconomic stability while pursuing a medium-term shift towards investment- and export-led growth to end historical boom-bust cycles. He outlined ongoing efforts to liberalize the trade regime through a phased reduction of additional customs duties over the next four to five years to enhance industrial competitiveness and promote exports. Discussing the investment climate and FDI inflows, the Minister underscored the importance of generating bankable projects and strengthening private sector-led investment pipelines. He noted the increasing interest among domestic business groups, including their participation in the ongoing privatization process, and emphasized the importance of business-to-business engagement to expand investment opportunities. The Finance Minister apprised the High Commissioner of ongoing tax reforms focused on documentation, digitalization, broadening of the tax base, and minimizing leakages. He shared that AI-based monitoring systems had been deployed to curb tax evasion and improve compliance. He also highlighted efforts to introduce integrity-based peer review mechanisms and improve service delivery to restore public trust in the tax system. The Minister noted that with tax policy now separated from the FBR, the Finance Division would establish sector-specific advisory mechanisms for continuous engagement with key industries.
Senator Aurangzeb also discussed policy interventions aimed at retaining skilled talent, addressing tax challenges in the IT sector, and improving the ease of doing business to facilitate foreign investors and experts. The High Commissioner congratulated the Finance Minister and his team on the notable progress made in implementing difficult reforms, achieving a primary fiscal surplus after 14 years, and improving fiscal management. She commended the Government’s clear direction for long-term economic growth and reform continuity. Ms. Marriott shared positive feedback from the business community, particularly in Karachi, noting increased investor confidence in the Government’s economic direction. She emphasized the importance of maintaining reform momentum, strengthening the social contract with taxpayers, enhancing talent availability, and simplifying processes for foreign executives working in Pakistan.
The High Commissioner welcomed Pakistan’s reform initiatives in tax administration and digitalization and reaffirmed the UK’s readiness to extend technical assistance in priority areas such as IT, climate finance, and public financial management. She also discussed enhanced UK support through the REMIT programme and emphasized the importance of sustained progress on ongoing collaborative initiatives. Both sides reaffirmed their commitment to strengthening bilateral cooperation, with a shared focus on economic reforms, climate action, private sector-led growth, and sustainable development.