Shehbaz Sharif meets businessmen, industrialists Says export-based economic development our mission Orders swift conversion of Pak-China MoUs into formal agreements.
ISLAMABAD - Prime Minister Shehbaz Sharif Monday said that the country’s economy had stabilised through continuous and strenuous 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 who called on him. The prime minister mentioned that additional measures would be taken in the upcoming budget to boost industrial development and production.
Attock farmer secures provincial runner-up spot in wheat yield contest
“ 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. Federal Ministers Rana Tanvir Hussain, Muhammad Aurangzeb, Attaullah Tarar, Ali Pervez Malik, Owais Ahmed Khan Leghari, Minister of State for Finance Bilal Azhar Kiani, Governor State Bank Jameel Ahmad, Chairman FBR and senior government officials also attended the meeting, PM Office Media Wing said in a press release.
PFA discards 3,755kg dead chicken, imposes Rs216,000 fines
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.
LHC seeks progress report in missing girls cases
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.
Delegation members praised the efforts of the prime minister, Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, and Chief of Army Staff and Chief of Defense Forces Field Marshal Syed Asim Munir in promoting peace amid tensions in the Gulf region.
Summer camps established across Punjab schools
The business community across the country expressed its support for the government’s initiatives aimed at economic development and jobs creation.
The delegation welcomed the launch of a loan scheme under ‘Wazir-e-Azam Apna Ghar Programme’ for the underprivileged and middle class on easy terms.
They also thanked the prime minister for reforms in the Export Development Fund Board, successful privatization of PIA, digitization of the FBR, and e-invoicing initiatives.
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.
Punjab reinforces smart lockdown from today
Also, PM Shehbaz Sharif directed that the Memorandums of Understanding (MoUs) signed during the B2B Conference in Hangzhou be immediately transformed into formal agreements and joint ventures.
He issued these directives while chairing a review meeting in Islamabad on Monday regarding the agreements and MoUs signed during his recent visit to China.
The Prime Minister said promoting industrial, agricultural and technical cooperation with China will enhance Pakistan’s exports and create new employment opportunities.
He said the unprecedented increase in business engagements between the private sectors of Pakistan and China is the beginning of a new era of economic partnership between the two countries.
The Prime Minister directed for operationalizing the cooperation agreed upon between the Chinese Academy of Agricultural Sciences and the Pakistan Agricultural Research Council.
He said Pakistan’s agriculture sector can be revolutionized through Pak-China joint ventures, agricultural research and modern technology.
One hundred and twenty-three Pakistani and 436 Chinese companies participated in the Pak-China B2B Conference held on 24th of last month in Hangzhou where 207 MoUs worth approximately 7.54 billion dollars were signed.
It was briefed in the meeting that the MoUs were signed in the fields of battery energy storage systems, artificial intelligence (AI) and mobile phones and handheld devices.
Memorandums of Understanding were also signed for extensive cooperation in the fields of fertilizers, seeds, advanced irrigation equipment, fisheries and food processing.