Islamabad: Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Tuesday held a meeting with newly-elected Chairman of Pakistan Business Council (PBC), Ziad Bashir, and Chief Executive Officer, Javed Kureishi and discussed investment, business competitiveness, regulatory reforms and measures to strengthen private-sector participation in Pakistan’s economic development.
While expressing best wishes to Ziad Bashir on his new assignment, the minister emphasized the need for a stronger focus on investment and private-sector-led growth, noting that businesses must continue to adapt to technological and digital transformation, said a news release issued here.
He highlighted the importance of improving efficiency, adopting new tech-driven business models and creating an environment that enables enterprises to remain competitive in changing markets.
The meeting also discussed the need for more focused and actionable engagement between the government and the business community. The minister encouraged PBC to undertake concise, sector-specific research and provide practical recommendations that could help identify key opportunities, address challenges, and support informed policymaking.
Aurangzeb highlighted the importance of learning from international experiences and keeping Pakistan’s policies and business environment aligned with evolving global practices.
He emphasized continued collaboration between the government and the private sector to identify opportunities and address areas requiring further improvement.
The minister also highlighted the importance of continued efforts to streamline the regulatory framework and address key areas affecting businesses and investment. He emphasized that reforms focus on practical measures that can facilitate business activity, improve competitiveness and support investment.
He also discussed opportunities to mobilize international financing and investment through institutions such as the U. S. International Development Finance Corporation (DFC) and the U. S. Export-Import Bank (EXIM).
Aurangzeb emphasized the importance of presenting specific, commercially viable and investment-ready projects to potential investors and financing institutions.
The meeting also covered Pakistan’s tax policy and the ongoing work on a medium-term tax policy framework. The minister welcomed structured input from the business community and emphasized the importance of broad-based consultation in developing a tax system that supports investment, competitiveness, and growth on a sustainable basis.
Senator Aurangzeb underscored the importance of continued engagement with the private sector and called for a balanced approach in which the government addresses policy and regulatory constraints while businesses contribute through investment, innovation, productivity improvements and expansion into new markets.
Ziad Bashir and Javed Kureishi appreciated the government’s continued engagement with the business community and welcomed the direction of economic and fiscal reforms.
They described the current federal budget as among the most promising in recent years and reaffirmed PBC’s willingness to provide sector-specific inputs and work with the Government on initiatives aimed at strengthening Pakistan’s investment climate, competitiveness and private-sector-led growth.
