Finance minister stresses need for devising pro-business fiscal policy

ISLAMABAD: Finance Minister, Dr. Shamshad Akhtar Wednesday stressed the need for designing a fiscal policy that benefits businesses.

“We need to design a fiscal policy that facilitates the businesses, we would like to do spade work for the upcoming governments, so that the country could benefit in future,” Dr Shamshad, who also holds portfolio of the Minister for Commerce, said while talking about the impact of the fiscal policy on trade and investment decisions.

Chairing a meeting at the Ministry of Commerce to review the ministry's performance, she discussed in detail the short term measures that could reduce the imports and steps that could make the exports more competitive.

She directed the Ministry of Commerce to give a detailed briefing in the next week, on the non-essential imports of the country, besides preparing a detailed paper on the subjects by Monday.

She also directed the ministry to bring a detailed input on the structural issues faced by the Ministry of Commerce. The minister appreciated the efforts of the ministry in highlighting important issues and assured of her utmost cooperation on all matters of immediate concern.

Earlier, Younus Dhaga, Secretary Commerce briefed the minister on the current level of exports and imports with their percentage composition.

The secretary also discussed in detail the reasons for declining exports and briefed her about what short term measures and long term policy interventions were required to improve the situation in Pakistan’s favour.

He also shared an initial draft on “Trade Related Investment Policy Framework” with the minister.