Pakistan’s sovereign credit profile has improved even as the government has allocated around Rs. 75 billion for a fuel relief program, Finance Minister Muhammad Aurangzeb said during a meeting with Canadian High Commissioner Tarik Ali Khan in Islamabad.
Aurangzeb briefed the Canadian envoy on Pakistan’s recent economic progress, saying the improvement in the country’s sovereign credit profile reflected progress on economic stabilization and structural reforms.
At the same time, the Finance Minister highlighted the government’s three-month fuel relief program, under which around Rs. 75 billion has been allocated to provide targeted support to eligible consumers following the recent increase in fuel prices.
The minister said the government remains focused on maintaining macroeconomic stability, strengthening external buffers and continuing economic reforms.
The meeting also covered ways to increase Canadian investment in Pakistan and improve the business environment for investors.
The Canadian High Commissioner highlighted the potential for greater investment by Canadian companies, particularly in mining, agriculture and renewable energy. Both sides also discussed opportunities for joint ventures and expanded trade.
Aurangzeb stressed the need to diversify trade and increase market access, particularly in agriculture and agricultural commodities.
The two sides also discussed Pakistan’s export processing zone regime and the operations of a Canadian-linked recycled clothing business. Aurangzeb noted its employment and environmental benefits and said the matter would be taken up with the relevant authorities.
The Finance Minister also highlighted the government’s privatization program, including opportunities in the aviation sector, and said Pakistan wants to attract credible long-term international investors.
The Canadian High Commissioner welcomed Pakistan’s economic stabilization efforts and expressed Canada’s interest in expanding trade, investment and business ties with Pakistan.
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