ISLAMABAD, MAR 5 /DNA/: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with the British High Commissioner to Pakistan, Ms. Jane Marriott CMG OBE, who called on him at the Finance Division today. The meeting focused on regional developments, Pakistan’s macroeconomic outlook, progress on economic reforms, and avenues for strengthening bilateral economic cooperation.

The Finance Minister briefed the High Commissioner on the government’s proactive approach to managing potential economic implications arising from evolving regional developments. He shared that the Prime Minister has constituted a high-level committee comprising key federal ministries and the State Bank of Pakistan to closely monitor developments and undertake daily stock-taking of critical sectors, particularly energy supplies and global commodity markets. The committee is reviewing supply chains, price movements, and potential disruptions in petroleum products, crude oil, coal, and gas, while also assessing broader implications for inflation, external accounts, and financial stability.

Senator Aurangzeb emphasized that Pakistan currently maintains adequate reserves and supply arrangements, noting that the government is undertaking scenario planning and sensitivity analysis in case the regional situation persists. The government is also reviewing energy conservation measures and coordinating with provincial authorities to ensure prudent resource management while avoiding unnecessary market panic.

During the discussion, Senator Aurangzeb provided an update on Pakistan’s ongoing economic reform agenda and engagement with the International Monetary Fund (IMF) under the current programme. He noted that the government remains committed to meeting programme benchmarks and advancing structural reforms, particularly in the areas of tax policy, revenue mobilization, governance, and institutional transparency. He highlighted the government’s focus on broadening the tax base through data-driven enforcement and improved compliance, while ensuring fairness across sectors.

The Finance Minister also shared that Pakistan’s macroeconomic indicators are showing signs of stabilization and recovery. He noted that economic growth in the first quarter of the current fiscal year reached 3.7 percent, with improvements in large-scale manufacturing and resilience in the agriculture sector. He underscored that the government is now focused on transitioning from stabilization to sustainable and inclusive growth while addressing social challenges such as unemployment and poverty.

Ms. Jane Marriott appreciated the government’s commitment to economic reform and reiterated the United Kingdom’s continued support for Pakistan’s efforts toward macroeconomic stability and long-term growth. She noted that the UK remains a strong partner in Pakistan’s development and economic transformation, including through support for reform initiatives, private sector engagement, and technical cooperation.

The High Commissioner also discussed the importance of promoting investor confidence, particularly in key sectors such as mining and minerals development. Both sides exchanged views on the importance of ensuring stability, good governance, and sustainable development in resource-rich regions to attract international investment and promote inclusive economic growth.

The Finance Minister welcomed the United Kingdom’s continued engagement and support for Pakistan’s reform agenda. He emphasized that Pakistan is committed to maintaining policy consistency, strengthening governance frameworks, and creating a conducive environment for domestic and foreign investment. Both sides reaffirmed their commitment to further strengthening Pakistan-UK economic cooperation and maintaining close coordination on economic and development priorities.