Finance Minister Muhammad Aurangzeb Directs Pakistan Single Window to Strengthen Its Reach to Facilitate Business Activities
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has directed the Pakistan Single Window (PSW) to strengthen its reach across the country to facilitate trade and business activities.
He made these remarks while presiding over the fourth meeting of the Governing Council of Pakistan Single Window.
In the meeting, the Secretary of the Governing Council briefed the Finance Minister on the implementation status of the decisions made in the previous meeting.
The CEO of the organization presented a comprehensive review of the implementation of the Pakistan Single Window system and the directions issued by the Governing Council.
He mentioned the details of ongoing projects, performance standards, challenges faced in implementation, and requested necessary actions in this regard.
Acknowledging the efforts of Pakistan Single Window, the Finance Minister instructed them to expedite the implementation process of the system.
He emphasized the need to ensure the inclusion of all stakeholders, including the provinces, and to prioritize the security of the system.
Muhammad Aurangzeb reiterated the government’s support for the reforms initiated under the Pakistan Single Window program and directed Pakistan Single Window to strengthen its reach nationwide to facilitate trade and business activities.
Informing about the ongoing negotiations for further loans with the International Monetary Fund (IMF), the Finance Minister said that the purpose of the new program from the global institution is to advance the agenda of economic reforms.
The statement mentioned that Finance Minister Muhammad Aurangzeb had a meeting with a delegation from the rating agency Standard & Poor’s, during which he informed them about the completion of the 9-month loan program with the IMF.
Muhammad Aurangzeb further stated that negotiations for a new mid-term loan program with the IMF are ongoing.
He mentioned that foreign exchange reserves stand at $9.4 billion and the stock market performance is strong. The inflation rate has decreased to 12.6% as of June 2024.
He noted that remittances have improved by 7.7% compared to last year, and there has been a 30% increase in tax revenues in the fiscal year 2023-2024.
During the meeting with the delegation, discussions were also held on reforms in the energy sector and the privatization of state-owned enterprises. The global rating agency’s delegation appreciated the improvements in economic indicators.
