Advisory body tells PM how to fuel economy

ISLAMABAD: As digital currency is fast gaining popularity globally, Prime Minister Shehbaz Sharif on Wednesday said consultations are underway to regulate digital currency in the country.

The prime minister while chairing a meeting of the Economic Advisory Council (EAC) – an independent, non-constitutional body established to advise the prime minister on economic matters – expressed confidence over positive economic indicators, saying it became possible due to team work.

The EAC members lauded the government’s economic policies and also put forth some recommendations aimed at further strengthening the economy.

Economy set to take off: PM

The prime minister appreciated the proposals put forth by the EAC members and directed the relevant authorities to collaborate with the council members to form a comprehensive action plan based on the proposals.

Sharif maintained that economic stability is the result of team-work and not any individual who was responsible for achieving it, adding that a lot more needed to be done to further boost the economy.

He reiterated his commitment to further gear-up the efforts for the sustainable development of the economy, adding that the current potential for regional trade would be fully utilised.

He insisted that in order to promote the country’s exports internationally, every effort would be made to equip local industries with the skills needed to compete in global markets.

PM-led economic advisory council constituted

“Industry, agriculture, information technology development, job creation, and increasing exports are among the top priorities of the government,” he added.

Highlighting the increasing demand for green data centers – service facilities that utilise energy-efficient technologies – motivated by the necessity for sustainable practices and enhanced energy efficiency, the prime minister said that efforts were underway to establish green data centers in the country.

Sharif said that efforts were also underway to improve telecommunication services and provide internet access to remote areas, which will help boost the number of freelancers and IT exports.

He also stressed the need to turn the meeting’s constructive discussions into actionable plans.

Participants of the meeting acknowledged that Pakistan’s economy was stable and progressing towards growth, saying that price stability had led to an increase in production.

They said the government’s economic team had proved all projections and analyses wrong, and for the first time, global economic institutions, the business community, and investors were united in acknowledging the government’s action plan.

The participants also commended the prime minister for his serious commitment to implementing institutional reforms, which had not been seen in Pakistan’s history before.

The participants were of the view that the improvement in the country’s tax system, ease of regulations, and the creation of a business and investor-friendly environment had contributed to the growth in all major sectors.

They noted that for the first time in history, there was easy access for the business community to the government’s economic team, and regular consultations are taking place.

The reduction of smuggling has also contributed to the increase in exports, which is a positive development, they said.

The meeting was attended by Jehangir Tareen, Saqib Shirazi, Shehzad Saleem, Musaddiq Zulqarnain, Dr Ejaz Nabi, Asif Peer, Zaid Bashir, and Salman Ahmed. The federal ministers who participated in the meeting include Ahsan Iqbal, Rana Tanveer Hussain, Jam Kamal Khan, Ahad Cheema, Mohammad Aurangzeb, and other senior officials.

Copyright Business Recorder, 2025