Ambassador Marilina Armellin, Finance Minister discuss bilateral cooperation

Celina Ali

Islamabad: The Ambassador of Italy to Pakistan Marilina Armellin called on Pakistan’s Minister for Finance & Revenue Senator Muhammad Aurangzeb at Finance Division on Monday, where both the dignitaries discussed the bilateral cooperation and longstanding relations between Italy and Pakistan.

After welcoming the Italian Ambassador, the Finance Minister apprises the guest with the significant improvements in Pakistan’s economic landscape including recent major steps taken by the government. The minister highlighted the government’s achievements, in bringing down the current account deficit, the recent boost in the stock market while reaching an all-time high and the successful completion of the nine-month Stand-By Arrangement (SBA) with the International Monetary Fund (IMF).

Muhammad Aurangzeb informed his guest about the government’s plan amid engagements with the IMF mission for a new program on a longer term basis.

The minister also outlined the government’s strategic moves aimed at broadening the tax base by targeting previously untaxed and under-taxed segments. He reiterated the government’s commitment to privatize various State-Owned Enterprises (SOEs), starting with Pakistan International Airlines (PIA) to be followed by major airports.

Italian Ambassador Armellin hailed the promising economic indicators and appreciated the recent improvement in Pakistan’s economy.

She stressed the potential for enhanced cooperation between Pakistan and Italy, particularly in the textile, machinery, agriculture, and dairy sectors.