German Ambassador Anna Lipl said the upgrade in Pakistan’s credit rating by Moody’s reflected growing confidence in the country, adding that Pakistan had made economic progress despite regional challenges.
Finance Minister Muhammad Aurangzeb said Pakistan’s foreign exchange reserves had improved and the government remained committed to economic stability and fiscal discipline.
According to an official statement, the meeting also discussed the role and cooperation of German companies in Pakistan.
The finance minister said the government would work to create a more business-friendly environment for German companies. He added that the digitalisation of the Federal Board of Revenue (FBR) would improve transparency in the tax system, while technology was being used to make tax administration more efficient.
The statement said the German ambassador expressed satisfaction with Pakistan’s economic reforms and said Germany wanted to further strengthen economic and business ties with Pakistan.
Both sides also agreed to enhance cooperation between German companies and Pakistani institutions.
The German ambassador invited the finance minister to attend the Asia-Pacific Conference, which will be held in Seoul, South Korea, later this year.
