Finance Minister Muhammad Aurangzeb has reiterated the government's commitment to create a conducive and enabling business environment for both domestic and foreign investors.

He was talking to a high-level delegation of the US-Pakistan Business Council led by its vice President Esperanza Jelalian in Islamabad today (Monday). The delegation comprised leading American investors form prominent businesses operating in or exploring opportunities in Pakistan.          

The Finance Minister welcomed the interest and investment by US companies in Pakistan and appreciated the participation of US officials and business representatives in the recently held Pakistan Minerals Forum.       

He underscored the vast potential for expanding Pak-US economic cooperation, particularly in energy, minerals, agriculture, and digital services.       

The Minister informed the delegation that the government is carefully reviewing policy suggestions, including those related to taxation regime, submitted by industry bodies and business forums as part of the consultative process ahead of the upcoming federal budget.                                 

Recalling his recent visit to the United States to attend the World Bank/IMF Spring Meetings, he shared that feedback from these stakeholders was overwhelmingly positive and reflected strong support for the macroeconomic stability and structural reforms in Pakistan.         

The meeting concluded with a mutual expression of commitment to deepening bilateral trade and investment ties between Pakistan and the United States.

Meanwhile, a delegation comprising CEOs of Pakistan's leading oil refineries called on Minister for Finance Muhammad Aurangzeb in Islamabad today.                 

They briefed the Finance Minister about their upcoming investment plans, including multi-billion-dollar plant upgrades to enhance domestic production capacity of petrol and diesel.

The delegation highlighted that these upgrades, have the potential to save the country one billion dollar annually in foreign exchange by reducing reliance on imported refined fuels.                     

The Minister appreciated the role played by the refining sector in strengthening Pakistan's energy security and reducing the import bill. 

He assured the delegation that the government will review their concerns, related to the sales tax exemptions, the issue will be addressed in a manner that supports the continued growth and modernization of the domestic refining industry.