Federal Minister for Industries and Production, Rana Tanveer Hussain, addressed the Lahore Chamber of Commerce and Industry, highlighting the government’s initiatives for economic revival and industrial growth. He stated that the government is committed to inclusive development and has implemented effective policies to support the industrial and agricultural sectors. Referring to last year’s agricultural growth rate of 6.4%, he emphasized that these achievements reflect the success of the government’s strategic measures. The minister explained that the government’s policy framework has been developed with input from international experts, bureaucrats, and technocrats to ensure sustainable growth. He noted that whenever Pakistan Muslim League (N) has been in power, it has prioritized economic stability and introduced innovative programs to boost key sectors. He reiterated that industrialists have always been provided maximum support to ensure economic resilience. Rana Tanveer Hussain also discussed the government’s efforts to renegotiate agreements with independent power producers (IPPs), aiming to provide relief to businesses and the public. He expressed optimism that significant improvements will be visible by April next year. Encouraging industrialists to play their part in economic revival, he stated, “Despite challenges, we must work collectively to stabilize the economy. Within a year, conditions will significantly improve.” The minister assured attendees that the government has reduced the interest rate from 22% to 12% in just ten months, linking it with inflation to create a balanced monetary policy. He also highlighted steps taken to ensure the autonomy of the State Bank of Pakistan. In conclusion, he urged the business community to continue their efforts to keep industries operational and contribute to Pakistan’s progress during these testing times.
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