Prime Minister Shehbaz Sharif has said the government is taking effective measures to promote business activities and improve the ease of doing business.
He was talking to a delegation of prominent industrialists and business leaders, which called on him in Islamabad today.
The Prime Minister said reducing energy costs is among the government's key priorities.
He said the recently established Trade Facilitation Board will be made an effective institution for promoting trade, and the government will welcome suggestions from the business community to improve its performance.
He said the Special Investment Facilitation Council has provided investors and the business community with a one-window platform to facilitate investment and business activities.
Shehbaz Sharif said work is also underway on a regulatory guillotine to reduce unnecessary regulatory burdens, simplify rules and regulations, and lower compliance costs.
He said significant progress has been made in the digitization of the Federal Board of Revenue, which collected 800 billion rupees through enforcement during the last financial year.
The Prime Minister said the country's macroeconomic situation has improved considerably due to the government's economic measures. However, he stressed the need for further efforts at the microeconomic level so that the dividends of economic improvement reach the people.
Shehbaz Sharif said the government is also focusing on skills development and training young people according to the requirements of industry and the market.
He directed immediate steps to resolve the problems faced by the business community. He also instructed the relevant authorities to examine extending the exemption from super tax for exporters.
The delegation was briefed on measures being taken to improve the country's ports, transport infrastructure and trade facilities.
It was informed that port charges have been reduced and the operational capacity of the ports has been improved.
The business community was told that work is underway on the upgradation of Motorway M-10 and the Pipri Freight Corridor to improve connectivity from Karachi's ports to other parts of the country.
It was further said that the construction of Motorway M-13 between Kharian and Rawalpindi will help reduce travel time between Lahore and Islamabad. Moreover, the upgradation of Pakistan Railways will also improve transportation of commercial goods.
The delegation was further informed that Pakistan's IT exports have witnessed a record increase. The government is providing training to one million people in the fields of information technology and artificial intelligence.
The meeting was also apprised of steps being taken to promote small and medium-sized enterprises and facilitate their access to financing.
The business leaders appreciated the improvement in the country's macroeconomic stability and expressed confidence in the government's economic reforms and policy measures.
They welcomed measures including the Export Development Fund, timely payment of tax refunds and digitization of the FBR.
The business community also welcomed Pakistan's successful three-billion-dollar bond issuance, saying it reflects improving macroeconomic stability and growing confidence in the country's economy.
The business leaders assured the government of their continued cooperation in promoting export-led economic growth.
They also appreciated the government's privatization and deregulation policies and presented proposals for resolving issues faced by their respective sectors.
The business leaders commended Pakistan's constructive role under the leadership of Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar and Chief of Defence Forces Field Marshal Syed Asim Munir for peace in the region.
The delegation included Mian Muhammad Mansha, Arif Habib, Saqib Shirazi, Atif Bajwa, Muhammad Ali Tabba, Musadik Zulqarnain, Umar Saeed, Samad Dawood, Ashraf Mookat, Shahid Soorti, Shehzad Asghar, Ziad Bashir, Shehzad Saleem, Asif Peer, Aamir Ibrahim, Javed Bilwani, Siddiq Bhatti, Fawad Anwar, Khurram Mukhtar and Yousaf Hussain.
