Aurangzeb, LCCI president discuss export-led economic growth

ISLAMABAD: Finance Minister Muhammad Aurangzeb here Monday informed the business community that the key role of the Tax Policy Office is to develop a medium-term tax policy framework for business community by maintaining sustained engagement with the private sector.

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Ali Hussam Asghar, President of the Lahore Chamber of Commerce and Industry (LCCI), to discuss measures for promoting sustainable, export-led economic growth, supporting small and medium enterprises (SMEs) and improving the overall business environment.

According to sources, the senior officials of the Federal Board of Revenue (FBR) responded to various tax-related queries raised by representatives of the trade body.

Emphasising the importance of policy continuity and predictability, Senator Muhammad Aurangzeb highlighted that a stable and predictable policy environment would enable businesses to make informed investment decisions and plan for long-term growth.

Finance Minister welcomed Ali Hussam Asghar and highlighted the government’s commitment to achieving sustainable economic growth through greater private-sector participation, enhanced competitiveness and an expanded export base. He emphasised that exports must remain central to the country’s growth strategy and that policies should facilitate exporters in becoming more competitive in regional and international markets.

The Finance Minister highlighted that improving the ease of doing business requires a facilitative and predictable policy environment, simplified regulatory processes and effective coordination among relevant institutions. He underscored the importance of addressing the concerns of businesses, particularly SMEs, and ensuring that government policies support investment, productivity, employment generation and business expansion.

Ali Hussam Asghar also shared the LCCI’s perspective on promoting SMEs, improving access to finance and facilitating business expansion. He emphasised the importance of a supportive business ecosystem, greater policy predictability, modernisation and export growth.

He also highlighted the importance of continued consultation with chambers of commerce and industry to ensure that business policies address ground-level challenges and support sustainable economic activity.

The discussion also covered ways to strengthen the SME sector as an important driver of economic activity, exports and employment. The Finance Minister highlighted the importance of improving access to finance, facilitating business expansion and encouraging investment in modernisation and capacity-building. He also emphasised the practical and targeted measures to encourage businesses to expand their operations, increase investment and contribute to economic growth.

The Finance Minister observed that taxation and regulatory policies should support productive economic activity while promoting documentation and broadening the tax base. He emphasised the value of evidence-based policymaking and constructive engagement with the business community to assess the impact of proposed measures on businesses, investment and employment. He also underlined the importance of simplifying procedures and building greater confidence between businesses and government institutions.

The Finance Minister reaffirmed the government’s commitment to working closely with chambers of commerce, industry representatives and other stakeholders to address business-related matters, promote SMEs and facilitate exporters. He observed that sustained collaboration with the private sector is essential to building a competitive economy driven by investment, productivity and exports.

The meeting was also attended by Minister of State for Finance Bilal Azhar Kiyani, Governor of the State Bank of Pakistan, Federal Secretary Finance, and senior representatives from the Tax Policy Office, Federal Board of Revenue (FBR) and Finance Division.

Copyright Business Recorder, 2026