- PM terms business leaders, ambassadors, key stakeholders.
- PM stresses private sector partnership, consultation in policymaking.
- Business leaders express confidence in fiscal management efforts.
Prime Minister Shehbaz Sharif on Wednesday said the federal budget for the upcoming fiscal year 2026-27 would include measures aimed at providing relief to the public while advancing the government’s export-led growth agenda.
He said the government was pursuing an export-led growth strategy, which was the central pillar of the economic policy.
Talking to the leading industrialists and prominent business leaders at the PM House, the prime minister underscored that measures were being taken to bring the informal economy into the tax net.
Welcoming the business leaders, the prime minister said that they were Pakistan’s ambassadors and represent the country’s identity around the world.
“We are grateful to the business community for supporting the government during difficult economic conditions,” he said adding that a strong partnership between the government and the private sector was the guarantee of economic growth.
The premier further stated that consultation with the business community was of critical importance in economic policymaking.
The meeting was held in the context of consultations with the business community regarding the upcoming Fiscal Year 2026-27 budget and efforts to accelerate the country’s overall economic growth.
The delegation included Mian Muhammad Mansha, Arif Habib, Atif Bajwa, Muhammad Ali Tabba, Musaddiq Zulqarnain, Ziaad Bashir, Shahzad Saleem, Zeelaaf Munir, Umar Saeed, Umar Mansha, Yousaf Saeed, Kamran Arshad, Khurram Mukhtar, Asif Peer, Sultan Gohar Ejaz, Fawad Anwar, Zulfiqar Hayat, Javed Iqbal, Yousaf Hussain, Amir Ibrahim, Khawaja Masood Akhtar, and Ijaz Nabi.
PM Shehbaz pointed out that business-friendly policies had stabilised the economy and restored the confidence of foreign investors.
“We are promoting industries that increase domestic production, boost exports, and create maximum employment opportunities,” he said, adding that development in industry, agriculture, and information technology will further strengthen the economy and generate new jobs.
The prime minister said technical and vocational training programs had been launched for young people to improve their employability and enable them to contribute effectively to national development.
During the meeting, the delegation was also briefed on government initiatives aimed at promoting business, industry, and trade.
It was informed that reforms had been introduced in tax tribunals to ensure the speedy resolution of tax-related cases. Appointments to these tribunals have been made through a highly transparent process.
The delegation was told that a committee had been established to work on the creation of Special Commercial Courts.
Likewise, it was told that work was underway on the upgradation of the M-10 Motorway and the Pipri Freight Corridor to improve connectivity between Karachi’s ports and inland regions.
Similarly, construction of the M-13 Motorway (Kharian-Rawalpindi) will reduce travel time between Lahore and Islamabad.
Upgrading Pakistan Railways’ ML-1 and ML-2 lines will improve railway infrastructure and facilitate more efficient transportation of commercial goods, the delegation was informed.
The briefing added that a National AI Transformation Plan was being developed and the installation of video analytics systems in the sugar and cement sectors had improved revenue collection by enhancing production monitoring.
The delegation praised Pakistan’s diplomatic efforts for promoting peace in the region and commended the prime minister and his team.
The delegation members expressed confidence in the government’s economic recovery efforts and improved fiscal management under the premier leadership.
They also thanked the prime minister and his team for steering the economy in the right direction and creating a conducive environment for business and investment.
Appreciating the government’s vision for promoting digital payments and a documented economy, the delegation welcomed tax reforms and measures aimed at improving ease of doing business.
They also thanked the prime minister for reducing electricity tariffs for industry, abolishing the Export Development Levy, and ensuring timely payment of tax refunds.
They appreciated the government’s decision to consult the business community during the budget preparation process and presented their recommendations regarding the budget and national economic strengthening.
They reaffirmed their commitment to continue cooperating fully with the government for economic recovery and growth and praised the government’s commitment to industrial development, export growth, and job creation.
In his remarks after the meeting, Chief Executive Officer of Lucky Cement said that the prime minister had desired to boost exports of the country. Likewise, the prime minister also wanted to give tax relief to the business community.
Chairperson Pakistan Business Council Zeelaf Munir stressed the need to increase economic growth in the country. She said expanding export volume was need of the hour.
2026-06-03 14:47:00
