Prime Minister Muhammad Shehbaz Sharif, Monday, said that the country’s economy had stabilised through sustained hard work while further efforts were afoot for accelerated economic growth.
The prime minister expressed these views during a consultative meeting held with a delegation of senior leadership from different Chambers of Commerce and Industry that called on him.
The prime minister mentioned that additional measures would be taken in the upcoming budget to boost industrial development and production.
“Our mission is export-based economic development and we will ensure the completion of this mission through collective efforts,” he added.
The prime minister directed the Federal Board of Revenue (FBR) to resolve all pending tax refund cases by June 15.
The advisory meeting was attended by the presidents and senior leadership of the FPCCI, Karachi, Lahore, Rawalpindi, Islamabad, Khyber Pakhtunkhwa, Quetta, Gujrat, Gujranwala, and Sialkot chambers.
Ministers Rana Tanvir Hussain, Muhammad Aurangzeb, Attaullah Tarar, Ali Pervez Malik, Owais Ahmed Khan Leghari, Minister of State for Finance Bilal Azhar Kiani, Governor State Bank Jameel Ahmad, Chairman FBR and senior government officials, PM Office Media Wing said in a press release.
The delegation presented proposals regarding the upcoming budget and the overall economic development of the country to the prime minister.
Despite the recent increase in the policy rate, the interest rate for the export refinance scheme would remain capped at 4.5% until June 2027, the prime minister said and appreciated banks’ decision to facilitate exporters.
He also instructed to move the central office of Pakistan Revenue Automation Limited (PRAL) to Karachi for the convenience of the business community.
In response to requests from overseas Pakistanis and the business community, the prime minister directed the establishment of a passport office in Gujrat.
He also highlighted that the provision of reforms and facilities for the development of the SME sector was a vital part of their economic agenda.
The prime minister encouraged local production of electric vehicles through joint ventures by Pakistani investors.
Delegation members praised the efforts of the prime minister, Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, and Chief of Army Staff and Chief of Defense Forces Field Marshal Syed Asim Munir in promoting peace amid tensions in the Gulf region.
The business community across the country expressed its support for the government’s initiatives aimed at economic development and jobs creation.
The delegation welcomed the launch of a loan scheme under ‘Wazir-e-Azam Apna Ghar Programme’ for the underprivileged and middle class on easy terms.
They also thanked the prime minister for reforms in the Export Development Fund Board, successful privatization of PIA, digitization of the FBR, and e-invoicing initiatives.
Members of the delegation expressed their commitment to assisting the government in bringing the grey economy into the formal economy through digitization and other reforms.
