Prime Minister Shehbaz Sharif has reaffirmed the government's commitment to accelerating economic growth, assuring business leaders that additional measures to promote industry, exports and investment will be introduced in the upcoming federal budget.
The remarks came during a meeting with a delegation comprising the top leadership of chambers of commerce and industry from across Pakistan, where participants discussed budget proposals and the country's broader economic outlook.
During the meeting, representatives of chambers of commerce presented a range of recommendations regarding the upcoming federal budget and economic policy.
Prime Minister Shehbaz Sharif said the country's economy had achieved stability through sustained efforts and coordinated policymaking, adding that the government would continue working to ensure faster economic growth.
More measures planned for industry and exports
The prime minister announced that further steps would be introduced in the upcoming budget to boost industrial development, production and investment.
He reiterated that export-led growth remains a central objective of the government's economic strategy and stressed that achieving this goal requires collective efforts from both the public and private sectors.
Shehbaz Sharif said that despite the recent increase in the policy rate, the Export Refinance Scheme rate would remain at 4.5 percent until June 2027.
He also appreciated commercial banks for facilitating exporters and supporting the country's export sector.
Addressing concerns raised by the business community, the prime minister directed the Federal Board of Revenue (FBR) to settle all pending tax refund cases by June 15.
The move is aimed at easing liquidity pressures and addressing long-standing concerns of businesses awaiting refunds.
To facilitate businesses, the prime minister also directed authorities to relocate the head office of Pakistan Revenue Automation Limited (PRAL) to Karachi.
Additionally, he approved the establishment of a passport office in Gujarat following requests from overseas Pakistanis and members of the business community.
The prime minister emphasized that reforms and incentives for small and medium-sized enterprises (SMEs) remain a key component of the government's economic agenda.
He also encouraged local investors to enter joint ventures for the domestic production of electric vehicles, describing the sector as an important avenue for modern industrial development.
Business leaders welcome govt Initiatives
Members of the delegation praised the government's economic measures and acknowledged efforts aimed at maintaining stability and encouraging growth.
Participants also welcomed initiatives including reforms in the Export Development Fund board, the privatization of Pakistan International Airlines, digitization of the FBR and the implementation of e-invoicing systems.
The delegation assured the government of its full cooperation in bringing the gray economy into the formal sector through digitization and structural reforms.
Business leaders said expanding documentation would help strengthen economic growth and create more employment opportunities across the country.
The meeting was attended by presidents and senior representatives of the FPCCI and chambers of commerce from Karachi, Lahore, Rawalpindi, Islamabad, Peshawar, Quetta, Gujarat, Gujranwala and Sialkot.
Senior government officials also participated, including federal ministers, finance officials, State Bank representatives and FBR leadership.
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