France, Pakistan to boost economic cooperation

France and Pakistan have reaffirmed their commitment to deepening economic relations, exploring investment opportunities, and expanding bilateral trade. This commitment was highlighted during a meeting between the Ambassador of France to Pakistan, Nicolas Galey, and Minister of State for Finance and Revenue, Ali Pervaiz Malik, at the Finance Division.

During the meeting, Malik outlined key reforms currently underway, including privatisation initiatives, advancements in the energy sector, and the restructuring of state-owned enterprises. He stressed the digitisation initiatives of the FBR, which are being implemented with support from McKinsey to enhance tax administration and compliance. Additionally, Malik highlighted the budget for 2024-25, focusing on strategies to expand the tax base by integrating untaxed segments and encouraging non-filers to comply. Ambassador Galey expressed appreciation for the reforms undertaken and offered technical support from France in areas of mutual interest. He recognised the progress made in stabilising the economy and expressed confidence in the potential for further collaboration between the two countries.