“We are providing maximum resources to promote these industries, which will help boost exports while meeting domestic production needs,” Rana Tanveer Hussain added
By Faizan Bangash
LAHORE: Federal Minister for Industries and Production, Rana Tanveer Hussain, revealed on Saturday that utility stores across Pakistan are undergoing a major restructuring. This initiative aims to enhance transparency and efficiency, ensuring that subsidies reach their intended beneficiaries more effectively.
Speaking to the media after inaugurating the 9th Colour and Chem Exhibition at the Expo Centre, Rana Tanveer outlined the government’s broader efforts to bring transparency to the subsidy system. He stressed the importance of political stability for economic development and noted recent government measures that have led to a reduction in inflation. Additionally, the minister highlighted ongoing efforts to simplify the tax system, with the goal of restoring confidence among taxpayers and investors.
Reflecting on the economic performance under the previous Pakistan Muslim League-Nawaz (PML-N) government, Rana Tanveer noted that inflation and essential commodity prices were under control, with the economy poised for a significant upturn. He stated, “We are restructuring the utility stores to ensure that subsidies are passed on to the public in a transparent manner.” The minister acknowledged complaints of subsidy misuse and emphasized that reforms are necessary to address these issues and ensure benefits reach those who truly need them.
Rana Tanveer commended Prime Minister Muhammad Shehbaz Sharif’s leadership, attributing the recent decline in inflation—from 38% to 16%—to the current administration’s efforts. He expressed confidence that Pakistan will soon overcome its economic challenges and return to prosperity. The minister also highlighted the government’s focus on simplifying the tax system to attract investment, particularly in small and medium industries. “We are providing maximum resources to promote these industries, which will help boost exports while meeting domestic production needs,” he added.
In addition to economic reforms, Rana Tanveer discussed the government’s emphasis on agriculture. He cited a recent agreement with the Chinese government, signed during the prime minister’s visit to China, aimed at training Pakistani agricultural experts with Chinese expertise. “This initiative will significantly improve Pakistan’s agricultural output,” he said.
Addressing the trade imbalance, Rana Tanveer noted that Pakistan’s export volume currently stands at $30 billion, while imports are considerably higher. He disclosed that the prime minister has set an ambitious target for the Ministry of Commerce to increase exports to $60 billion over the next three years. “Our priority is to revitalize the economy.
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