Summary Says export-based economic development priority
ISLAMABAD (APP) - 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.
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.
The business community across the country expressed its support for the government’s initiatives aimed at economic development and jobs creation.
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.
