Islamabad May 17 2024: Pakistan engaged McKinsey & Company to assist with the digitalization of the Federal Board of Revenue to improve tax revenues and bring transparency to the system.
Alternate Executive Directors of Asian Development Bank (ADB) on Thursday called on Minister for Finance and Revenue Senator Muhammad Aurangzeb and discussed the ongoing and future cooperation between Pakistan and the ADB.
The minister welcomed members of the delegation and highlighted the improvement in Pakistan’s macroeconomic conditions and also emphasized the need for broadening the tax base and digitalization of the country’s tax regime.
In this regard he mentioned that the services of McKinsey & Company have been engaged to assist the initiative of digitalization of Federal Board of Revenue, which will not only enhance revenue but will also add to the transparency of the tax collection system.
Furthermore, the Finance Minister underscored the commitment of this government for State Owned Enterprises reforms and privatization agenda.
The ADB delegation praised Pakistan’s efforts to promote economic stability through proactive measures. They expressed confidence in Pakistan’s economic trajectory and reaffirmed ADB’s commitment to support its development and cooperation.
Senator Muhammad Aurangzeb expressed gratitude to the ADB delegation for their visit and continued support towards Pakistan’s economic revival and development efforts.
The minister also acknowledged the ADB team’s assistance in various initiatives being undertaken by the Ministry of Finance.
