Macroeconomic conditions have improved due to govt efforts: PM

ISLAMABAD: Prime Minister Shehbaz Sharif Friday stated that the country’s macroeconomic conditions have significantly improved as a result of his economic team’s hectic efforts, emphasising the need for additional work to improve conditions at the microeconomic level to ensure that the benefits of economic progress reach the people.

During a meeting with a delegation of prominent industrialists and businessmen, the prime minister emphasised that the government’s top priority was to support and enhance the industry and business sectors.

He emphasised that the business community and industrialists were the backbone of the country’s economy, and it was a top priority to address any challenges they were facing, adding that the government was working towards implementing business and investment-friendly policies.

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Sharif said that investors and the business community have been given an easy and simple platform in the form of the Special Investment Facilitation Council (SIFC) – the much-trumpeted military-backed investment promotion body – which offers facilities through a streamlined one-window operation to the businessmen.

He continued that a significant amount of work had been done towards the digitalisation of Federal Board of Revenue (FBR), adding that the implementation of the Faceless Custom Assessment (FCA) system had enhanced transparency.

He stated that the government was working towards achieving the targets of sustainable progress, noting that significant progress had been made in the last one year in terms of foreign direct investment in the country.

The prime minister said that the government’s focus was on attracting foreign direct investment in sectors that could boost exports.

He recalled that his recent visits to Azerbaijan and Uzbekistan resulted in the signing of numerous agreements for investment in Pakistan, indicating the trust of foreign investors in the national economy.

He emphasised that the most effective method to boost economic growth was to improve the country’s exports and invited input from business leaders and industrialists on achieving sustainable economic growth.

The prime minister also issued directives to form a committee comprising businessmen, industrialists, and government ministers to propose a strategy for achieving sustainable economic growth. The committee is expected to provide recommendations to the government within two weeks.

A statement issued by the PM Office said that the delegation appreciated the government for its economic policies and for the positive changes in economic indicators.

The members of the delegation praised the FBR and other government departments for their effective measures in curbing smuggling.

They also commended the government for introducing the FCA system and for its privatisation and deregulation policies.

The meeting was attended by Federal Minister for Planning Ahsan Iqbal, Federal Minister for Industries and Production RanaTanvir, Federal Minister for Economic Affairs Ahad Cheema, Federal Minister for Finance Muhammad Aurangzeb, and other top officials.

Copyright Business Recorder, 2025