ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Mr. Yousaf Hussain, President of the Overseas Investors Chamber of Commerce & Industry (OICCI), today at the Finance Division in Islamabad.

The meeting provided an opportunity to discuss Pakistan's ongoing economic recovery and explore areas of collaboration between the government and the business community, particularly in relation to the upcoming federal budget for FY 2024-25. Mr. Hussain commended the government for its efforts in ensuring macroeconomic stability, recognizing the positive impact of improved economic indicators resulting from prudent government policies. He expressed confidence in Pakistan's ongoing economic recovery, noting that the country was on a positive trajectory due to these well-targeted reforms. He emphasized that fostering a constructive dialogue between the government and the OICCI would be crucial as the consultative process for the next federal budget is underway. He highlighted the importance of policy continuity and a favorable policy framework, which he believes are key to consolidating the economic gains made thus far and ensuring sustained macroeconomic stability.

Mr. Hussain also pointed out that the private sector's involvement in the budget formulation process would be vital, stressing the need for policies that support businesses and attract foreign investment. He expressed hope that the government would maintain a collaborative approach and work alongside the business community to create an enabling environment for economic growth. His remarks focused on the importance of aligning government policies with the private sector's interests to enhance Pakistan's economic prospects. In response, Finance Minister Aurangzeb assured Mr. Hussain of the government's commitment to working closely with the business community. He emphasized that the government values the input of organizations like the OICCI and is dedicated to incorporating their feedback in the budget process. The Minister reiterated that the government's primary focus remains on supporting businesses, strengthening the investment climate, and fostering long-term economic growth. He assured Mr. Hussain that the budget would prioritize measures to sustain macroeconomic stability, encourage private sector growth, and ensure the continued recovery of the economy. Both parties reaffirmed their commitment to working together to further enhance Pakistan's economic prospects. The meeting highlighted the importance of continued cooperation between the government and the private sector, particularly as Pakistan seeks to maintain its economic recovery and attract further investment. Both sides expressed optimism about the future and the potential for a stronger partnership moving forward. The meeting concluded with both Mr. Hussain and Minister Aurangzeb expressing mutual hope for a productive and inclusive budget process that would further strengthen Pakistan's economic position on the global stage.