ISLAMABAD: Prime Minister Shehbaz Sharif was informed on Tuesday that consultations are being accelerated with the private sector, particularly exporters, to expand port facilities and fully activate Gwadar Port.
The officials briefed the prime minister and leading figures from the industrial sector during a meeting focused on economic and industrial development, increasing exports, and addressing challenges faced by the business community.
The briefing highlighted that relief measures have been provided to the common man, business community, and investors within the available budget resources. Officials said there is significant potential for expanding investment and industry in Pakistan.
They added the government team is working to improve awareness and communication with the private sector regarding policy facilitation, noting that Pakistan is emerging from difficult times and is now on the path to development.
Efforts are underway to reduce production costs, including electricity prices, to enhance the competitiveness of the business community in global export markets, officials said. They also noted that the digitisation of the Federal Board of Revenue (FBR) is simplifying business and investment processes.
Privatisation of state-owned enterprises is being expedited to reduce the size of the government, they added.
“For the first time in the country’s history, a modern information technology ecosystem is being introduced. AI-based systems are being developed in agriculture and other sectors,” officials said, highlighting ongoing efforts to introduce modern technology, quality seeds, machinery, and updated systems in agriculture.
Business leaders representing textiles, agriculture, cement, information technology, and other industries took part in the meeting.
Speaking on the occasion, Prime Minister Sharif credited the government team’s tireless efforts for achieving economic stability.
“Now, the goal after achieving stability is to ensure economic growth, increase exports, generate employment, develop industries, and enhance foreign investment in the country,” he said.
He stressed the need to utilise local resources to achieve economic development and make Pakistan self-reliant, adding that suggestions from the business community are extremely valuable for the country’s economic progress.
“I will personally meet with the business community every month to involve them in the consultative process for national economic development,” the prime minister said.
“I am hopeful that our future meetings will be as meaningful and productive as today’s,” he added. “Private sector representatives and experts from each field will be consulted.”
“This long journey of progress must be undertaken with hard work and mutual cooperation,” he concluded.
A statement issued by the Prime Minister’s Office said that the “participants praised the government’s efforts to stabilise the economy under the prime minister’s leadership.”
“After long and testing negotiations with the IMF, you finalised and ensured the implementation of a programme to save Pakistan’s economy,” they told the prime minister.
They also described the budget as a “people-friendly step in the right direction for business facilitation” and emphasised that government policies should align with the needs of business, investment, and industry.
“To increase foreign investment in Pakistan, it is necessary to provide more facilities to investors and exporters,” they said.
The participants appreciated government reforms in the tax system and efforts to enhance transparency and speed in customs clearance at ports by the FBR.
They welcomed the inclusion of private sector suggestions in policy-making for industrial development. The federal ministers, Rana Tanveer Hussain, Muhammad Aurangzeb, Ataullah Tarar, Awais Leghari, Ali Pervaiz Malik, Shaza Fatima, Hanif Abbasi, Junaid Anwar Chaudhry, Prime Minister’s Agriculture Coordinator Ahmed Umair, and other senior officials attended the meeting.
