ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday briefed the CEOs of PepsiCo for different countries about economic progress of Pakistan.
A meeting of the finance minister with PepsiCo’s CEO for Africa, ME & SA Mr. Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Mr. Muhammad Khosa was held at Finance Division.
Senator Muhammad Aurangzeb welcomed Mr. Willemsen and provided an update on Pakistan’s economic progress besides highlighting recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency.
He attributed these positive indicators to the successful completion of the nine-month stand-by arrangement (SBA) with the IMF and mentioned that a staff-level agreement (SLA) has been reached to ensure continued economic stability.
The finance minister also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, emphasizing the government’s initiative to incorporate undertaxed and untaxed entities into the tax net. He appreciated the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth.
Senator Muhammad Aurangzeb while talking about the digitization in FBR, discussed the integrating RAAST (the digital payment system) and NADRA (the national database and registration authority) to further improve efficiency.
CEO PepsiCo for Africa Mr. Willemsen expressed appreciation for Pakistan’s positive economic indicators and noted the growth in the financial sector. The meeting underscored the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.
