Prime Minister Shehbaz Sharif on Monday stressed on the need for efforts to accelerate economic growth following economic stabilization through continuous and strenuous hard work.
In a consultative meeting with a delegation of leaders of various Chambers of Commerce and Industry, he vowed the upcoming federal budget would include measures to boost industrial development and production. “Our mission is export-based economic development and we will ensure the completion of this mission through collective efforts,” he said.
In response to complaints from the visiting delegation, the premier also directed the Federal Board of Revenue (FBR) to resolve all pending tax refund cases by June 15.
According to a statement issued by the Prime Minister’s Office, the delegation presented proposals regarding the upcoming budget and the overall economic development of the country. Sharif informed them that despite the recent increase in the policy rate, the interest rate for the export refinance scheme would remain capped at 4.5% until June 2027. In this regard, he appreciated banks’ decision to facilitate exporters.
The prime minister also instructed the shifting of the central office of the Pakistan Revenue Automation Limited (PRAL) from Islamabad to Karachi for the convenience of the business community. Similarly, responding to requests from overseas Pakistanis and the business community, he directed the establishment of a passport office in Gujrat.
Sharif further highlighted that the provision of reforms and facilities for the development of the SME sector was a vital part of the government’s economic agenda. He called for local production of electric vehicles through joint ventures by Pakistani investors.