The Federal Minister for Finance Muhammad Aurangzeb said that the government plans to tax reforms, raise the tax-to-GDP ratio of Pakistan by broadening the tax base and rationalization the burden from organized sectors like manufacturing and salaried classes. He said this during a meeting with Karim Yahi, the Global CEO of Coca-Cola İçecek (CCI), and several other officials of the global company.
The minister mentioned that the improved and innovative tax machinery would thus bear fruit for a more efficient and just system, bringing in people-processed technology and end-to-end digitalization to increase transparency and reduce corruption.
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Their delegation also learned that CCI is the only company with diverse operations in Pakistan having seven production facilities and producing monumental contributions toward the economy through significant capital infusion coupled with sustainable job creation.
Aurangzeb valued CCI’s efforts, which have made it an important investor and contributor to the economy. “I appreciate CCI’s commitment to creating a prosperous, sustainable future, ensuring sustainable industrial growth and job creation,” he said. The government is prepared to accommodate policies in which investment-friendly environments provide equally taxation-relief policies that contribute to economic growth and sustain revenue generation.
With that, both parties expressed their anticipation of sustained engagement between themselves to explore collaborative opportunities for sustainable development and long-term economic growth in Pakistan through better policy frameworks.