By Press Release
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ISLAMABAD: Raimundas Karoblis, the newly appointed Ambassador of the European Union to Pakistan, called on the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division on Thursday.
During the meeting, both sides discussed matters of mutual interest, particularly focusing on enhancing economic cooperation and strengthening bilateral trade and investment ties between Pakistan and the European Union.
Welcoming the Ambassador on his diplomatic assignment in Pakistan, the Finance Minister briefed him on the country’s economic situation, noting that the economy was on the path to recovery and in a stronger position.
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He also apprised the Ambassador of the Government’s wide-ranging macroeconomic reforms in taxation, energy, state-owned enterprises, public finance, and the rightsizing of government institutions, expressing optimism that the privatization process would gain further momentum in the coming days.
He underlined that the Prime Minister was personally leading the economic reform agenda. He noted that Pakistan had recently received positive assessments from all three leading global credit rating agencies, which were now well-aligned on Pakistan’s economic outlook, reflecting growing confidence from bilateral partners, including the EU.
He added that overall business sentiment had improved, though continued efforts were underway to further facilitate local investors. The Finance Minister also spoke about the devastation caused by recent floods to crops, livestock, and infrastructure, stating that federal and provincial governments were managing rescue and relief operations from their own resources.
Copyright Business Recorder, 2025
