Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, along with his team, here on Friday held a Zoom meeting with representatives of standard and Poor (S&P) Global Ratings as part of the ongoing Pakistan Sovereign Ratings Review. During the session, the Finance Minister presented a detailed overview of the government’s macroeconomic reform agenda and reaffirmed Pakistan’s commitment to achieving sustainable and inclusive economic growth by enhancing productivity and promoting exports, said a press release issued here. He emphasized the continuity of reforms across key sectors including taxation, energy, state-owned enterprises (SOEs), privatization, public finance management, rightsizing of government functions, and more active debt management strategies. The Finance Minister noted that inflation and the current account deficit (CAD) had remained a good story throughout the year, contributing positively to overall economic stability. He also highlighted the achievement of surpluses in both the primary balance and the current account as major milestones, underscoring the improving fundamentals of Pakistan’s economy. He stated that the country’s external portfolio was well-managed, with foreign exchange reserves projected to reach $14 billion by the end of June, supported by upcoming institutional and trade inflows, strong remittances, and easing oil prices, all of which are helping reduce pressure on the external account. He credited strict financial discipline and robust coordination between the federal and provincial governments for enabling the achievement of a primary surplus. The Finance Minister pointed to significant institutional reforms including the signing of a comprehensive National Fiscal Pact, operationalization of the National Tax Council, and the imposition of agricultural income tax, reflecting a whole-of-government approach and a shared national resolve to improve resource efficiency, broaden the tax base, and ensure long-term inclusive growth. He further stated that the tax-to-GDP ratio was expected to reach 10.6 percent by the end of June, which would mark progress toward the government’s target of raising it to 13 percent by the conclusion of the 37-month Extended Fund Facility (EFF) with the International Monetary Fund (IMF). He added that the separation of the Tax Policy Office from the Federal Board of Revenue (FBR) was part of a broader effort to align tax policymaking with economic value principles rather than administrative convenience. The Finance Minister also shared insights from his recent visit to the United States for the World Bank/IMF Spring Meetings, during which he held over 70 meetings in six days with counterparts, Development Finance Institutions (DFIs), investment banks, multilateral and bilateral partners, rating agencies, think tanks, and media outlets. He conveyed that the feedback received from these stakeholders consistently reflected appreciation and support for the structural reforms and macroeconomic stability achieved by Pakistan over the past 14 months. At the same time, there was a strong and unified recommendation for Pakistan to stay the course, deepen the reform momentum, and focus on embedding permanence in macroeconomic stability, with international partners expressing readiness to support the country in achieving these objectives. OICCI: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Friday underscored the importance of macroeconomic stability and enhancing the Private sector’s role in engagement with the Overseas Investors Chamber of Commerce and Industry (OICCI). Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a Zoom meeting today with the office bearers and members of the Overseas Investors Chamber of Commerce and Industry (OICCI), said a press release issued here. During the meeting, the minister outlined the government’s broader macroeconomic reform agenda and its ongoing commitment to fostering stability, sustainability, and inclusive growth. He highlighted the government’s focus on improving the overall economic framework through structural reforms aimed at enhancing efficiency, transparency, and accountability in key sectors such as taxation, energy, public finance, and state-owned enterprises. The minister underscored that progress had been made in stabilizing the economy through disciplined fiscal management, improved coordination between federal and provincial governments, and strengthened institutional mechanisms. These measures, he noted, are central to building a more resilient economic foundation capable of withstanding internal and external pressures. The finance minister reiterated that the government is committed to a policy direction that not only sustains macroeconomic stability but also encourages long-term private sector-led growth. He assured the OICCI leadership that their input remains valuable and that all constructive recommendations would be considered in the budget formulation process. The OICCI acknowledged the government’s efforts in engaging international partners and welcomed the sustained policy focus on structural reforms and investor confidence. The Chamber shared its perspective on expanding the tax base, strengthening enforcement through technology and inter-agency coordination, and deepening institutional engagement with the private sector to support more effective policy development and implementation. It also noted early signs of improved investor sentiment and reaffirmed its willingness to work with the government to reinforce economic progress. The Chamber also noted that its Business Confidence Survey showed improved sentiment over the past year and expressed hope that recent macroeconomic gains would further boost investor optimism in the coming months.