Caretaker Prime Minister Anwaarul Haq Kakar announced the success of the Special Investment Facilitation Council (SIFC) initiatives, aimed at bolstering the national economy.
In a meeting with members of the Pakistan Association of Large Steel Producers (PALSP) and industrialists from Khyber-Pakhtunkhwa, Kakar outlined the caretaker government’s initiatives to foster a business-friendly environment and enhance private sector engagement, aiming to spur development and increase tax revenues.
The meeting, held at the Prime Minister’s Office in Islamabad, was attended by prominent figures such as the Governor of the State Bank of Pakistan, Jameel Ahmed, the Chairman of the Federal Board of Revenue (FBR), and secretaries from relevant ministries.
The interim prime minister underscored the government’s commitment to promoting exports and creating employment opportunities, expressing optimism for the continuity of these policies by future administrations for sustained economic and industrial growth.
Kakar praised the collective efforts of the caretaker finance minister, FBR leadership, and the business community for their role in economic reforms and restoring investor confidence.
He specifically highlighted the importance of investing in the steel industry and the exploration of new iron ore deposits as crucial for the nation’s development.
The discussion also covered the achievements of Pakistan’s steel and copper sectors, which stand as the fourth-largest export sector, with copper exports reaching $1.35 billion in the last financial year.
The meeting underscored the low per capita steel consumption of 40 kilograms in Pakistan, pointing to a significant growth potential, and noted the steel industry’s contribution of Rs400 billion in annual tax revenue, emphasizing the sector’s vital role in the economy.
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