ISLAMABAD – French Ambassador to Pakistan, Nicolas Galey, met with Minister of State for Finance, Ali Pervaiz Malik, at the Finance Division today to discuss the deepening of economic ties between the two nations.
During the meeting, Malik provided a comprehensive overview of Pakistan’s economic progress. He highlighted key positive developments, including increased foreign exchange reserves, reduced inflation, and a strong stock market performance, all supported by recent ratings from international agencies. Malik also outlined ongoing reforms, such as privatization efforts, advancements in the energy sector, and the restructuring of state-owned enterprises (SOEs).
The discussion also focused on the Federal Board of Revenue’s (FBR) digitization initiative, which, with support from McKinsey, aims to enhance tax administration and compliance.
Malik emphasized the 2024-25 budget, detailing strategies to broaden the tax base by integrating previously untaxed sectors and encouraging compliance among non-filers. The conversation included significant projects in customs and Inland Revenue, aimed at improving digitization and operational efficiency.
Ambassador Galey praised Pakistan’s reform efforts and offered technical support from France in areas of mutual interest. He acknowledged the progress made by the Pakistani government in stabilizing the economy and expressed optimism about further collaboration.
Both parties reaffirmed their commitment to strengthening economic relations, exploring investment opportunities, and expanding bilateral trade.
