ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday briefed the CEOs of PepsiCo for different countries about economic progress of Pakistan.

A meeting of the finance minister with PepsiCo’s CEO for Africa, ME & SA Eugene Willemsen accompanied by CEO Pakistan and Afghanistan Muhammad Khosa was held at Finance Division.

Senator Muhammad Aurangzeb welcomed Willemsen and provided an update on Pakistan's economic progress besides highlighting recent improvements, including increased foreign exchange reserves, decreased inflation, and stable currency.

He attributed these positive indicators to the successful completion of the nine-month stand-by arrangement (SBA) with the IMF and mentioned that a staff-level agreement (SLA) has been reached to ensure continued economic stability.

The finance minister also spoke about ongoing reforms in the energy sector, state-owned enterprises (SOEs), and taxation, emphasising the government's initiative to incorporate under-taxed and untaxed entities into the tax net. He appreciated the PepsiCo’s seed lab initiative and its impact in driving agricultural and overall economic growth.

Aurangzeb while talking about the digitisation in FBR discussed the integrating RAAST (the digital payment system) and NADRA (the national database and registration authority) to further improve efficiency.

Willemsen expressed appreciation for Pakistan's positive economic indicators and noted the growth in the financial sector. The meeting underscored the commitment of both parties to foster continued economic development and explore collaborative opportunities in Pakistan.