Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb reaffirmed the government’s commitment to expanding Pakistan’s formal economy during a meeting with a Nestlé Pakistan delegation on Monday. He stressed that improved compliance, transparency, and tax reforms are essential for long-term economic stability as the government continues cracking down on informal markets.
The minister highlighted the newly established Tax Policy Office, noting that it enables continuous dialogue with private companies and supports year-round policy development. Moreover, he stated that this structural reform will help refine taxation measures before the next budget while encouraging responsible investment from major corporations.
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Nestlé Pakistan’s leadership, led by CEO Jason Avancena, briefed the minister on the company’s expansion strategy and its resilience during challenging economic periods. They explained how localization, automation, innovation, and portfolio adjustments have strengthened operations, especially as fully automated plants in Sheikhupura and Khanewal now meet global diagnostic standards.
The delegation also detailed ongoing investments in sustainability, agricultural transformation, enhanced manufacturing capacity, and energy-efficient systems. Furthermore, they reported that Nestlé’s localization drive has reduced its import bill from around $150 million to nearly $76–80 million over three years, lowering foreign-exchange exposure and supporting domestic agriculture.
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The finance minister praised these efforts and encouraged broader collaboration with the Tax Policy Office to improve tax recovery and reduce informal competition in sectors like packaged beverages. He also advised Nestlé to explore logistics partnerships to expand exports into Central Asian markets, ensuring growth in global trade activities.
Nestlé expressed interest in announcing its long-term investment plans at the upcoming World Economic Forum in Davos, where company leaders hope to meet the Prime Minister. The minister welcomed the proposal and reaffirmed the government’s support for sustainable, innovation-driven manufacturing that strengthens Pakistan’s economic position regionally and globally.