Japanese envoy meets finance minister

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with Japanese Ambassador to Pakistan Akamatsu Shuichi at Finance Division here on Thursday.

They discussed ongoing economic reforms, bilateral relations, and opportunities for deeper economic cooperation. Minister Aurangzeb welcomed Akamatsu on assuming his diplomatic responsibilities in Islamabad, commending Japan’s longstanding partnership with Pakistan.

The minister highlighted the positive momentum in Pakistan’s macroeconomic stability, which he attributed to key reforms and structural adjustments across various sectors, including fiscal framework, taxation, Special Economic Zones, energy, rightsizing of the federal government, and privatization efforts.

He emphasised that the government remains committed to continuing its reform agenda, focusing on critical issues such as population growth and climate change vulnerability. The minister reaffirmed Pakistan’s commitment to maintaining the trust and credibility of its bilateral and multilateral development partners, including Japan. He expressed appreciation for Japan’s diplomatic, economic, and technical support and urged Japanese investors to explore investment opportunities in Pakistan, particularly in manufacturing and production, which would contribute to the country’s exportable surplus.

Ambassador Akamatsu expressed his appreciation for the progress made in Pakistan’s macroeconomic stability and the government’s reform efforts. He provided an update on the scope of ongoing Japanese investment in Pakistan, noting that around 80 Japanese companies currently operate in the country, employing over 65,000 local workers, and significantly contributing to the Pakistani economy.

The minister acknowledged Japan’s valuable contributions and assured the ambassador of Pakistan’s continued engagement with Japanese investors to incorporate their input in the upcoming federal budget’s policy framework. Both sides expressed a strong desire to further strengthen bilateral economic ties and explore new avenues for collaboration.