UK investment board team meets finance minister

Finance Minister Muhammad Aurangzeb met a delegation of the British International Investment Board, 24NewsHD TV channel reported on Friday.

In the meeting, various aspects of Pakistan's economic situation were discussed. The Finance Minister highlighted measures to improve economic situation of Pakistan.

The role of SIFC in the country's economic development was also highlighted.

He said domestic foreign exchange reserves increased and Pakistan restored investor confidence in capital markets.

In June 2024, the inflation rate in the country decreased to 12.6%, he said, adding that the IMF program was a success while discussions are ongoing with the IMF for a new long-term programme.

Increasing the tax base and digitization of FBR is a government priority, he maintained.

The finance minister shed light on the measures to reduce the production cost of energy and steps to privatize Discos.