Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has underscored full support and facilitation for foreign investors, including German firms, in expanding their footprint in Pakistan, while streamlining the repatriation of profits and dividends and addressing allied matters.
He hailed the government of Germany for its valuable technical and financial assistance to Pakistan and emphasised the significance of investment by German companies in diverse sectors of the economy.
German Ambassador Ina Lepel called on the federal minister for finance at the Finance Division on Monday, said a press release.
Welcoming the ambassador, the finance minister assured her of continued engagement to further deepen bilateral cooperation between the two countries. He provided an overview of Pakistan's economy, highlighting the recent improvements in key indicators.
The finance minister spoke about the ongoing talks with an International Monetary Fund (IMF) review mission under the $7 billion Extended Fund Facility, and Pakistan's progress on meeting quantitative and structural benchmarks under the programme.
The minister also apprised her of the devastation caused by recent floods and the broader challenges posed by climate change. According to reports, the deluge has damaged agricultural crops, destroyed livelihoods and displaced millions.
He outlined the government's commitment to fostering an investment-friendly environment, noting that Prime Minister Shehbaz Sharif was clear and keen on letting the private sector lead the country's growth.
Ambassador Lepel recalled her previous diplomatic assignment in Pakistan from 2013 to 2015 and shared fond memories of that period.
She discussed avenues for further promoting bilateral trade and investment and expressed support for the government's efforts to achieve sustainable economic growth by encouraging private sector participation and foreign investment in a welcoming business environment.
Both sides reaffirmed their commitment to strengthening Pakistan-Germany economic cooperation and exploring new opportunities for trade, investment and development partnership.
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