Prime Minister Shehbaz Sharif stated that due to the efforts of his economic team, macroeconomic conditions in the country have improved significantly. However, he emphasized that the government must focus on improving microeconomic conditions to ensure that the benefits of economic progress reach the people.
He made these remarks while addressing a delegation of leading industrialists and businessmen. The prime minister reaffirmed the government’s commitment to prioritizing the promotion of industry and business, acknowledging that the business community and industrialists are the backbone of the national economy. He assured them that resolving their challenges remains a top priority.
The prime minister highlighted the government’s efforts to implement business- and investment-friendly policies. He pointed out that the Special Investment Facilitation Council (SIFC) provides investors and the business community with a streamlined, one-window operation for investment facilitation.
He further noted that a major portion of the Federal Board of Revenue’s (FBR) digitalization efforts has been completed, and the introduction of the Faceless Customs Assessment System has enhanced transparency. The government, he added, is striving to achieve sustainable economic progress.
Over the past year, significant progress has been made in attracting foreign direct investment (FDI), particularly in sectors that can boost exports. The prime minister shared that during his visits to Azerbaijan and Uzbekistan, several investment agreements were signed, reflecting growing confidence of foreign investors in Pakistan’s economy.
He stressed that the most effective way to accelerate economic growth is by increasing exports and invited suggestions from industrialists and business leaders to develop a sustainable economic growth strategy. To facilitate this, he directed the formation of a committee comprising businessmen, industrialists, and government ministers, tasked with presenting recommendations within two weeks.
The delegation commended the government’s economic policies and improvements in key indicators. They also praised the FBR and other departments for their efforts to curb smuggling and welcomed the introduction of the Customs Assessment System, privatization initiatives, and deregulation policies.
The meeting was attended by Federal Minister for Planning Ahsan Iqbal, Federal Minister for Industries and Production Rana Tanvir Hussain, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Finance and Revenue Muhammad Aurangzeb, Federal Minister Ali Pervaiz Malik, Prime Minister’s Coordinator Rana Ihsan Afzal, and senior officials.
