The government has assured American multinationals that it is committed to creating a predictable policy framework and pushing through structural tax reforms, according to a Finance Division read‑out of a meeting with the American Business Council (ABC) late Friday.
Finance and Revenue Minister Muhammad Aurangzeb met a 15‑member ABC delegation headed by the council’s president, Kamran Attaullah Khan. Senior executives from US blue‑chip investors in fast‑moving consumer goods, pharmaceuticals, energy and tech attended, alongside officials from the Federal Board of Revenue (FBR).
Aurangzeb began by recounting his talks with the US‑Pakistan Business Council during last month’s IMF/World Bank Spring Meetings in Washington, saying “the scale and depth of US investment is significant and valuable, and we look forward to expanding it.”
ABC members tabled budget proposals and raised sector‑specific irritants—ranging from tax anomalies and foreign‑exchange approvals to sales‑tax refunds. The minister stressed that engagement should be “continuous, not confined to the budget cycle,” urging companies to file suggestions early so they can feed into the FY 2025‑26 finance bill. He said the Finance Division is strengthening a standalone Tax Policy Office and setting up an advisory panel to institutionalise private‑sector input.
Aurangzeb told the delegation that Pakistan’s macro‑stabilisation is holding, but warned the country “must stay the course” on reform if it wants to avoid a 25th IMF programme. He repeated the government’s plan to widen the tax base, shift the burden away from compliant corporates and seal leakages in supply chains through end‑to‑end digitisation and FBR restructuring. “Our aim is a fully formalised economy; some of the best tech talent inside the FBR’s IT arm is working on this,” he said.
The minister added that while donor financing for reforms is largely secured, Islamabad “needs know‑how more than capital in certain areas” and welcomed technical collaboration from US firms. The ABC thanked him for a “candid” exchange and pledged to keep working with the authorities. Both sides agreed to maintain a regular channel to tackle bottlenecks and unlock new trade and investment opportunities.
