The government has called for greater private sector investment and faster digital transformation as Finance Minister Muhammad Aurangzeb urged businesses to play a larger role in driving Pakistan’s economic growth.
Aurangzeb made the remarks during a meeting with newly elected Pakistan Business Council Chairman Ziad Bashir and PBC Chief Executive Officer Javed Kureishi to discuss investment, business competitiveness and regulatory reforms. The finance minister said businesses need to adapt to technological changes, improve efficiency and adopt technology driven business models to remain competitive. He also emphasized the need for policies that create a more supportive environment for private investment.
The meeting also discussed ways to make government engagement with the business community more focused and practical. Aurangzeb encouraged the PBC to prepare concise, sector specific research with actionable recommendations that can help the government identify investment opportunities and address business constraints.
Aurangzeb also highlighted opportunities to attract international financing through institutions including the U.S. International Development Finance Corporation and the U.S. Export Import Bank. He said Pakistan needs to present specific, commercially viable and investment ready projects to potential investors and financing institutions.
The finance minister and PBC leadership also discussed Pakistan’s tax policy and the development of a medium term tax policy framework. Aurangzeb welcomed structured input from businesses and called for broader consultation to develop a tax system that supports investment, competitiveness and sustainable growth.
The government also plans to continue streamlining regulations affecting businesses and investment. Aurangzeb said reforms should focus on practical measures that make it easier to conduct business and improve the competitiveness of Pakistani companies.
PBC Chairman Ziad Bashir and CEO Javed Kureishi welcomed the government’s engagement with the business community and said the current federal budget was among the most promising in recent years. They also reaffirmed the council’s willingness to provide sector specific recommendations and work with the government on improving Pakistan’s investment climate and supporting private sector led growth.
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