Finance Minister briefed Jefferies Investors on economic reforms and investment

ISLAMABAD
According to a press release issued by the Finance Division, A delegation of Jefferies Investors, led by Ms. Alia Moubayed from Jefferies, called on the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, in Islamabad on Thursday. The delegation included Mr. Vasil Nikolov from HBK Investment Management, Mr. Khaled Sellami from Barings, Mr. Xin Xu from Ashmore, Mr. Salman Ahmed from Fidelity, Mr. Khurram Sheikh from Jefferies, and Mr. Mahmood Ali Shah Bukhari from Ktrade Securities.
The delegation discussed Pakistan’s macroeconomic outlook, investment climate, and ongoing economic reforms. They invited the Finance Minister to the Pakistani Investors Day in London, scheduled for May 2025, as part of efforts to strengthen engagement with global investors.
Senator Muhammad Aurangzeb highlighted Pakistan’s economic stabilization, emphasizing the government’s commitment to structural reforms in taxation, energy, state-owned enterprises (SOEs), and privatization. He noted that the economy is now in a stable position in quantitative terms and outlined the government’s proactive approach to fiscal discipline, revenue mobilization, and investment facilitation. The Minister informed the delegation about key tax reforms, including the activation of the National Tax Council to enhance coordination between the federal government and provinces. He elaborated on the expansion of the tax base, with a focus on formally bringing the wholesale, retail, and real estate sectors into the tax net. He also discussed the agricultural income tax, stating that all four provinces have approved the bill, and it is expected to take effect from July 1, 2025. Additionally, he noted that tax policy has been moved from the Federal Board of Revenue (FBR) to the Finance Division, ensuring a more strategic and policy-driven approach.
On the fiscal side, the Minister underscored the government’s rightsizing efforts to control expenditures and manage public finances efficiently. He reaffirmed the government’s focus on export-led growth, stating that all sectors must contribute to a structural shift in Pakistan’s economic model.