Shehbaz Sharif says measures being taken to bring informal economy into tax net Directs timely completion of Pakistan Railways’ mega projects PM, Chinese Ambassador discuss evolving regional situation.

Islamabad - Prime Minister Shehbaz Sharif said Wednesday that the upcoming budget will include measures aimed at providing relief to the public.

He was talking to a delegation of leading industrialists and prominent businessmen who called on him in Islamabad. The PM said a strong partnership between the government and the private sector is a guarantee of economic growth. He said consultation with the business community is of utmost importance in formulating policies related to Pakistan’s economy.

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Shehbaz Sharif said the government is pursuing an export-led growth strategy which remains the central pillar of country’s economic policy. He noted that measures are being taken to bring the informal economy into the tax net. He said business-friendly policies have helped stabilize the economy and restore the confidence of foreign investors.

He said government is working to promote industries that increase domestic production, boost exports and create maximum employment opportunities.

The PM emphasised that progress in the industrial, agricultural and information technology sectors would further strengthen the economy and generate new job opportunities. He highlighted that the launch of technical and vocational training programs for the youth will facilitate employment and enable them to play a meaningful role in national development.

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During the briefing, participants were informed that reforms have been introduced in tax tribunals to ensure the swift disposal of tax cases, with appointments made through a highly transparent process. A committee has also been constituted to examine the establishment of Special Commercial Courts.

It was informed that work is underway on the upgradation of Motorway M-10 and the Pipri Freight Corridor to improve inland connectivity from Karachi’s ports. It was stated that the construction of Motorway M-13 Kharian–Rawalpindi would reduce travel time between Lahore and Islamabad.

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The delegation paid tribute to the Prime Minister and his team for Pakistan’s diplomatic efforts aimed at promoting peace and stability in the region.

Business leaders expressed confidence in the country’s economic recovery journey and improved fiscal management under the leadership of the PM. They thanked the Prime Minister and his team for steering the economy in the right direction and creating a conducive environment for business and investment. The participants also appreciated the government’s decision to engage the business community in the preparation of the upcoming budget. Business leaders presented their proposals regarding the national economy and the budget, and reaffirmed their commitment to continuing full cooperation with the government for economic recovery and growth.

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Also, PM Shehbaz Sharif said federal and provincial governments should work in close coordination for the early completion of major Pakistan Railways projects particularly ML-1, ML-3 and Thar Coal Rail Project. Chairing a meeting regarding Pakistan Railways, in Islamabad, he emphasized that timely and high-quality completion of mega projects would reduce construction costs and help to save valuable national resources.

He assured that budgetary allocations for railways’ mega projects will be ensured in the upcoming budget. He reiterated that ensuring international standards, administrative transparency and performance efficiency in all ongoing projects remains a top priority of the government.

The PM said investment in freight services and timely completion of mega projects should be among the top policy priorities of the Pakistan’s railways.

He said world-class freight services would not only facilitate the transportation of industrial goods but also significantly increase the annual revenue of Pakistan Railways.

He directed that prior approval of financial and institutional arrangements for ongoing mega projects of the railways must be ensured in order to avoid unnecessary delays and interruptions in their completion.

Meanwhile, PM Shehbaz Sharif expressed firm resolve to ensure further strengthening of Pakistan-China All Weather Strategic Cooperative Partnership.

He was talking to Chinese Ambassador to Pakistan Jiang Zaidong who called on him in Islamabad.

The PM emphasised the need to immediately initiate necessary actions for follow up on the important decisions taken during his recent visit to China.

He particularly stressed upon the need to expand cooperation in key areas under CPEC 2.0, particularly agriculture, IT, industries, including SEZs and mines & minerals.

The PM further stressed upon the need to ensure timely follow-up of the various MoUs signed between Pakistani and the Chinese companies, at the B2B Investment Conference, held in Hangzhou.

Other issues discussed during the meeting included the fast-tracking of KKH realignment project, expanding security, counter-terrorism and defence cooperation, as well as economic and financial support. The evolving regional situation and international developments were also discussed.

The Ambassador assured the Prime Minister that China remained committed to strengthening its iron-clad brotherhood with Pakistan and expand cooperation across all spheres.