By our correspondent
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met Pakistan Business Council (PBC) Chairman Ziad Bashir and Chief Executive Officer Javed Kureishi to discuss investment, business competitiveness, regulatory reforms and measures to strengthen private-sector participation in Pakistan’s economic development.
The finance minister congratulated Bashir on his election as PBC chairman and stressed the need for greater focus on investment and private-sector-led growth. He said businesses needed to adapt to technological and digital transformation by improving efficiency and adopting technology-driven business models to remain competitive in changing markets.
The meeting also focused on strengthening engagement between the government and the business community. Aurangzeb encouraged the PBC to conduct concise, sector-specific research and submit practical recommendations that could help identify investment opportunities, address challenges and support informed policymaking.
The minister stressed the importance of learning from international experience and keeping Pakistan’s policies and business environment aligned with evolving global practices. He said continued cooperation between the government and private sector was needed to identify opportunities and address areas requiring further improvement.
Aurangzeb also called for continued efforts to streamline the regulatory framework and address issues affecting businesses and investment. He said reforms should focus on practical measures that could facilitate business activity, improve competitiveness and encourage investment.
The meeting also discussed opportunities to mobilise international financing and investment through institutions including the US International Development Finance Corporation and the US Export-Import Bank. The finance minister stressed the need to present specific, commercially viable and investment-ready projects to potential investors and financing institutions.
Tax policy and the government’s ongoing work on a medium-term tax policy framework were also discussed. Aurangzeb welcomed structured input from the business community and stressed the importance of broad-based consultation in developing a tax system that could support investment, competitiveness and sustainable economic growth.
The finance minister said continued engagement with the private sector was important and called for a balanced approach in which the government addressed policy and regulatory constraints while businesses contributed through investment, innovation, productivity improvements and expansion into new markets.
Bashir and 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 the PBC’s willingness to provide sector-specific input and work with the government on initiatives aimed at strengthening Pakistan’s investment climate, competitiveness and private-sector-led growth.
