Minister of State for Finance, Bilal Azhar Kayani, held an important press conference on Monday, stating that under the leadership of Prime Minister Shehbaz Sharif, the government is making concerted efforts to incorporate the proposals and perspectives of the private and business sectors into the country's economic policies.
He disclosed that last Thursday, the Prime Minister held a crucial three-hour-long meeting with private, business, and industrial figures. The purpose of this consultation was to provide relief to the business community and bring all stakeholders on board.
In this one-on-one consultative session, 10 Working Groups have been constituted, led by prominent private sector business personalities. These groups are mandated to present their recommendations to the Prime Minister on November 15, which will guide the formulation of economic policy.
The Working Groups are focused on key sectors such as Income Tax, Customs, Anti-Dumping, Export Development Fund, Energy, Railways, Ports, Industrial Development, Agriculture, Information Technology (IT), and Industrialization. Officials from relevant ministries and departments are included as technical advisors.
The government's objective is to integrate the private sector's practical suggestions into policy aimed at reducing energy costs, implementing tax reforms, promoting exports, and achieving sustainable economic growth. The Minister of State further added that the government intends to develop agriculture as a new source of foreign exchange earnings through value-added agricultural products, and is taking special measures for effective exports in the IT sector.
The Minister of State for Finance underscored that the government has institutionalized the process of continuous consultation with the private sector. The administration is committed to the policy that sustainable economic progress and effective policymaking can only be achieved through joint efforts and Public-Private Partnerships.
