German envoy lauds Pakistan’s economic progress

German Ambassador Ina Lepel met Finance and Revenue Minister Senator Muhammad Aurangzeb on Tuesday and congratulated Pakistan after Moody's raised its sovereign rating. Business Recorder reported that she praised the country's economic progress despite regional geostrategic challenges. She said the better rating reflects greater confidence in Pakistan's economic outlook and reform efforts.

Aurangzeb pointed to stronger foreign exchange reserves and ongoing fiscal discipline, while outlining the government's push for macroeconomic stability, structural reforms and a friendlier investment climate. The talks also covered German multinational companies operating locally, and he stressed policy continuity and easier business procedures. He also described the digitisation of the Federal Board of Revenue as a step that would make tax administration more transparent and efficient.

Lepel invited the minister to the Asia-Pacific German business conference in Seoul later this year, a forum meant to link business and political leaders with Europe and the Indo-Pacific. Both sides reaffirmed a shared commitment to close engagement and wider business ties between the two countries.