Budget 2023-24: Dar vows to ensure business-friendly environment

ISLAMABAD: Finance Minister Senator Ishaq Dar on Saturday assured that despite economic challenges, the government was determined to provide a business and investment-friendly environment in the country through the upcoming budget of Fiscal Year 2023-24, ARY News reported.

“In order to attract more companies and investments in Pakistan and put the country’s economy on a positive trajectory soon”, the finance minister said.

Ishaq Dar made the assurance during a meeting with a delegation of Pakistan Stock Exchange (PSX) led by Farrukh Hussain Khan, MD/CEO PSX.

Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Chairman RRMC Ashfaq Yousif Tola, Governor SBP, Chairman FBR, and senior officers from Finance Division, FBR, and PSX attended the meeting.

The delegation appreciated the initiative of the Finance Minister for taking on board all the stakeholders while preparing the budget for upcoming Fiscal Year 2023-24.

The delegation also brought to the notice of Finance Minister various challenges being faced by the capital markets and investors and presented recommendations to be taken into account in the upcoming Federal Budget 2023-24.

Ishaq Dar acknowledged and appreciated the role of PSX in providing a reliable, orderly, liquid and efficient digitized marketplace for investors in Pakistan.

The delegation expressed sentiments of gratitude to Dar for taking on board all the leading businesses and investors before drafting the upcoming budget 2023-24.

Meanwhile, the finance minister also met delegations of the Pakistan Business Council (PBC) and the Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss the budgetary proposals for 2023–24.

The delegations from PBC and OICCI thanked the finance minister for inviting budgetary recommendations from the business community, including all the leading private-sector businesses and conglomerates and multinationals as well.

They presented particular financial solutions and recommendations to the finance minister to be taken into account in the upcoming Federal Budget.

They further assured FM Dar that the commerce sector would support the government to enhance the economic and commercial activities in Pakistan.

The finance minister highly valued the delegations’ budgetary recommendations from both delegations. He also appreciated the prominent role of PBC as an advocacy forum to improve the general business environment of the country.

Senator Dar also praised the role of OICCI in successfully promoting foreign investments in Pakistan, thereby playing a major role in the growth of economy in the country.

He also reaffirmed the government’s willingness to address the issues being faced by the business community and investors, both within Pakistan or from abroad, to ensure the country’s economic prosperity.

Both delegations expressed gratitude to the finance minister for taking their budgetary recommendations into account.