Prime Minister Shehbaz Sharif on Tuesday directed relevant authorities to review the matter of extending exemption from super tax for exporters while calling for immediate measures to resolve the issues faced by the business community. The prime minister issued the directives during a meeting with a delegation of prominent industrialists and business leaders here at the PM House to discuss measures for promoting export-led economic growth, a news release said.
He said the purpose of the meeting was to consult the business community on promoting export-oriented economic growth. He thanked the business leaders for their valuable proposals during the budget-making process, saying several of their suggestions had been incorporated into the federal budget. He said the government was taking effective measures to promote business activity and improve the ease of doing business, while reducing energy costs remained among its key priorities.
The prime minister expressed his resolve to make the recently established Trade Facilitation Board an effective institution for promoting trade and welcomed proposals from the business community to further improve its performance and scope. He said the Special Investment Facilitation Council (SIFC) had provided investors and the business community with a convenient platform where facilities were being provided under a one-window operation. Shehbaz Sharif said work was also under way on a regulatory guillotine to reduce the unnecessary regulatory burden on businesses, simplify rules and regulations, lower compliance costs and facilitate business activities.
He said significant progress had been made in the digitisation of the Federal Board of Revenue (FBR). The prime minister said the country's macroeconomic conditions had improved considerably due to the efforts of the economic team, but further work was required at the microeconomic level to ensure that benefits of economic improvement reached the people. Shehbaz said the government, in consultation with the business community, had introduced long-pending structural reforms over the past two and a half years, describing the process a result of sustained teamwork between the government and private sector.
He said that Rs800 billion had been recovered in a year through enforcement measures alone, without imposing any new taxes. He said the purpose of the meeting was to seek the opinion of the business community, as the country was in the first quarter of the fiscal year, on the challenges facing export enhancement and possible solutions to address them. The prime minister directed the relevant authorities to take immediate measures for resolution of issues faced by the business community and review the extension of super tax exemption for exporters.
During the meeting, the delegation was briefed on government measures for improving the economy and promoting business, trade and industry. The business leaders appreciated the country's macroeconomic stability and expressed confidence in the government's economic reforms and policy measures. Speaking on the occasion, renowned businessmen Arif Habib said the government had incorporated several proposals of the business community in the federal budget and expressed hope for increased investment and export growth during the current year.
Industrialist Amir Ibrahim said the meeting focused particularly on enhancing exports, including from traditional sectors and emerging areas such as telecommunications, digital infrastructure and AI. He said the business leaders called for greater focus on AI infrastructure, including data centres and AI factories, to strengthen Pakistan's digital economy. Another businessman Umar Saeed welcomed regular consultations between the government and industry, saying such interaction would help resolve business-related issues and improve the country's exports and economy.
Business leader Shehzad Saleem said the prime minister keenly listened to all discussion and took note of everything where certain good suggestions were made by the business leaders. He said the prime minister also directed to resolve concerns of the businessmen and urged to ensure regular meetings. Industrialist Javaid Balwani also appreciated the establishment of Federal Board of Revenue (FBR) offices in Karachi and Lahore, describing the initiative as helpful in facilitating the business community.
He said these interactions should continue as it would help improve the national economy and exports. The delegation also included Mian Muhammad Mansha, Saqib Shirazi, Atif Bajwa, Muhammad Ali Tabba, Musaddiq Zulqarnain, Samad Dawood, Ashraf Mookaty, Shahid Soorti, Shehzad Asghar, Ziad Bashir, Asif Peer, Siddiq Bhatti, Fawad Anwar, Khurram Mukhtar and Yousaf Hussain. Separately, during a meeting with newly appointed Italian Ambassador to Pakistan Ugo Ciarlatani, the prime minister assured Pakistan's full support for further strengthening bilateral relations with Italy, particularly in agriculture, information technology (IT), AI, industry, textiles and people-to-people contacts.