Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mr. Ziad Bashir, newly-elected Chairman of the Pakistan Business Council (PBC), and Mr. Javed Kureishi, Chief Executive Officer of PBC, to discuss investment, business competitiveness, regulatory reforms and measures to strengthen private-sector participation in Pakistan’s economic development.
While expressing his best wishes to Mr. Ziad Bashir on his new assignment, the Finance Minister emphasized the need for a stronger focus on investment and private-sector-led growth, noting that businesses must continue to adapt to technological and digital transformation. He highlighted the importance of improving efficiency, adopting new tech-driven business models and creating an environment that enables enterprises to remain competitive in changing markets.
The meeting also discussed the need for more focused and actionable engagement between the Government and the business community. The Finance Minister encouraged PBC to undertake concise, sector-specific research and provide practical recommendations that can help identify key opportunities, address challenges, and support informed policymaking.
Senator Muhammad Aurangzeb highlighted the importance of learning from international experiences and keeping Pakistan’s policies and business environment aligned with evolving global practices. He emphasized continued collaboration between the Government and the Private sector to identify opportunities and address areas requiring further improvement.
The Finance Minister also highlighted the importance of continued efforts to streamline the regulatory framework and address key areas affecting businesses and investment. He emphasized that reforms focus on practical measures that can facilitate business activity, improve competitiveness and support investment.
The Finance Minister discussed opportunities to mobilize international financing and investment through institutions such as the U.S. International Development Finance Corporation (DFC) and the U.S. Export-Import Bank (EXIM). He emphasized the importance of presenting specific, commercially viable and investment-ready projects to potential investors and financing institutions.
The meeting also covered Pakistan’s tax policy and the ongoing work on a medium-term tax policy framework. The Finance Minister welcomed structured input from the business community and emphasized the importance of broad-based consultation in developing a tax system that supports investment, competitiveness, and growth on a sustainable basis.
Senator Muhammad Aurangzeb underscored the importance of continued engagement with the private sector and called for a balanced approach in which the Government addresses policy and regulatory constraints while businesses contribute through investment, innovation, productivity improvements and expansion into new markets.
Mr. Ziad Bashir and Mr. Javed Kureishi appreciated the Government’s continued engagement with the business community and welcomed the direction of economic and fiscal reforms. They described the current Federal Budget as among the most promising in recent years and reaffirmed PBC’s willingness to provide sector-specific inputs and work with the Government on initiatives aimed at strengthening Pakistan’s investment climate, competitiveness and private-sector-led growth.
