Govt wants to facilitate businesses, says finance adviser

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Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Thursday said that the Pakistan Tehreek-e-Insaf (PTI) government wants to facilitate businessmen by making it easy for businesses to function in the country in order to open up new avenues for foreign investment.

Addressing a ceremony in the federal capital, Shaikh said that the government is also planning on establishing special economic zones in the country to increase investment. “China is a major economic partner of Pakistan and economic development is essential for generating employment opportunities in the country,” he said, adding that the government is fully committed on this front.

He said that networking among people is of utmost importance for development and prosperity in the region and for this purpose the government is focusing on promoting its exports by motivating the local business so that the local industry can be given a boost.

Earlier in the day, Hafeez said that in the coming months, various overseas bonds will be introduced. “The government is currently taking steps to increase exports to reduce the budget deficit and to boost a sustainable inflow of dollars,” he said.

“We are preparing for the sale of Eurobonds, Sukuk and Chinese Renminbi bonds,” he added.

He further said that the government’s plan is to grant subsidies and concessions on raw-material import to lift overseas shipments to $26.8 billion this year. “Pakistan’s economy was in a pretty bad shape when the incumbent government came into power but we are trying to shore up on the external front and so far we have been able to mobilise resources,” he said.

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