ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Thursday met a 13-member delegation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) of Nigeria, led by Barrister Imo Effiong Akpan, Federal Commissioner. Senior officials of the Finance and Revenue Division were also present during the meeting.
The finance minister welcomed the delegation and expressed Pakistan’s commitment to expanding institutional cooperation and dialogue with friendly nations, particularly in the areas of fiscal governance and revenue reforms.
Barrister Imo Effiong Akpan briefed the Minister on the mandate of the RMAFC, a constitutionally established body responsible for formulating revenue allocation frameworks, advising on public sector remuneration, and strengthening fiscal coordination within Nigeria’s federal structure.
Structural reforms under sharper focus, Aurangzeb tells Dialog delegation
He explained that the delegation is undertaking a study tour as part of Nigeria’s ongoing review of its national revenue distribution formula, and that their engagements in Pakistan, including interactions with the Federal Board of Revenue (FBR) and other government institutions, are aimed at learning from Pakistan’s experience in tax administration, customs modernization, resource management, and federal revenue sharing mechanisms.
Senator Muhammad Aurangzeb apprised the delegation of macroeconomic progress and the Government’s reform agenda under the leadership of the Prime Minister. He underscored improvements in key macroeconomic indicators over the past 18 months, including increased stability in the external account, moderation in inflation, improved fiscal discipline, and enhanced market confidence, reaffirming the Government’s commitment to maintaining the reform momentum through responsible economic management and sustained engagement with international financial institutions.
The Finance Minister also highlighted the major structural reforms under way, including broadening of the tax base, enhanced digitization, real-time risk-based compliance, and improved documentation as part of Pakistan’s taxation reforms. He outlined progress in the energy sector aimed at addressing circular debt, improving governance, implementing cost-reflective tariffs, and moving towards market-based operations.
He further referred to reforms in state-owned enterprises, including the transition to a holding company structure and accelerated privatization, with 24 state-run enterprises already transferred to the Privatization Commission. He added that pension reforms and rightsizing measures are being advanced to strengthen long-term fiscal sustainability through the modernization of pension frameworks and rationalization of government expenditure.
The minister informed the delegation of the comprehensive transformation underway within the Federal Board of Revenue, being directly supervised by the Prime Minister, which includes end-to-end digitization of tax processes, strengthened customs automation, enhanced transparency and compliance enforcement, and preparatory work for transitioning toward the Pakistan Revenue Authority model.
Responding to questions from the delegation, Senator Aurangzeb highlighted Pakistan’s shift toward private-sector-led growth, noting that several sectors, particularly banking, have already witnessed strong private participation. He emphasized the Government’s commitment to creating an enabling regulatory environment while reducing unnecessary state interventions, especially in agriculture and industrial markets.
The finance minister also explained Pakistan’s bi-monthly federal revenue distribution process, which is guided by constitutional frameworks and executed by the Ministry of Finance, and he outlined the structured mechanisms through which remuneration for public officeholders is determined, involving autonomous bodies, parliamentary forums, and Cabinet approval.
He further reaffirmed Pakistan’s longstanding partnerships with friendly countries and emphasized the Government’s focus on advancing B2B cooperation in key sectors, including mining, renewable energy, and industrial development. He assured the delegation of Pakistan’s readiness to continue supporting knowledge exchange and institutional collaboration with Nigerian counterparts.
Senator Aurangzeb thanked the visiting delegation for their productive engagement and expressed confidence that their interactions in Pakistan will contribute meaningfully to Nigeria’s fiscal reform process.
Barrister Akpan conveyed appreciation for the hospitality extended by the Government of Pakistan and reaffirmed Nigeria’s intention to incorporate the insights gained during the visit into its national policy review.
Copyright Business Recorder, 2025
