Italy-Pakistan Meeting Strengthens Economic Ties

Italy and Pakistan recently held a significant meeting to discuss their strong cooperation and relations in various sectors. The Ambassador of Italy to Pakistan, Marilina Armellin, met with the Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to explore opportunities for further collaboration.

During the meeting, Minister Aurangzeb highlighted the positive economic developments in Pakistan, such as the reduction of the current account deficit, the booming stock market, and the successful completion of a Stand-By Arrangement with the IMF. He also mentioned ongoing discussions for a new long-term program with the IMF.

The Minister shared the government's initiatives to broaden the tax base by targeting untaxed sectors and plans to privatize State-Owned Enterprises, starting with Pakistan International Airlines and major airports. He emphasized a shift towards investment-driven economic strategies, focusing on IT and agriculture sectors, and invited Italian investors to explore opportunities in these areas.

Ambassador Armellin praised Pakistan's economic progress and expressed optimism about increased collaboration, especially in textile, machinery, agriculture, and dairy industries. Minister Aurangzeb thanked Italy for its support and reiterated Pakistan's commitment to strengthening ties with Italy.

The meeting between Italy and Pakistan signifies a positive step towards enhancing economic cooperation and fostering mutual growth. With both nations recognizing the potential for collaboration in various sectors, the future looks promising for further partnerships and investments between Italy and Pakistan.