Economic Advisory Council expresses confidence in govt’s policies

ISLAMABAD: The Economic Advisory Council (EAC) members expressed full confidence in the government’s economic policies and presented key suggestions aimed at further strengthening Pakistan’s economic growth.

Prime Minister (PM) Shehbaz Sharif on Wednesday chaired a meeting of the EAC and welcomed the recommendations of the members. He directed the relevant authorities to collaborate with the council members to form a comprehensive action plan based on these suggestions.

PM Shehbaz said that economic stability was not the result of an individual effort but the collective efforts of the entire team.

Reiterating his commitment to work for the sustainable development of the economy, he stated that the current potential for regional trade would be fully utilised.

PM Shehbaz also highlighted efforts to make local industries capable of competing in international markets with their exports.

“Industry, agriculture, IT development, job creation, and increasing exports are among the government’s top priorities,” he said adding that the prime minister was focused on establishing green data centres in the country.

He said efforts were also underway to improve telecommunication services and provide internet access to remote areas, which will help boost the number of freelancers and IT exports.

The prime minister pointed out that consultations were also ongoing regarding the regulation of digital currencies. He also stressed the need to turn the meeting’s constructive discussions into actionable plans.

Participants of the meeting acknowledged that Pakistan’s economy was stable and progressing towards growth, saying that price stability had led to an increase in production.

They said the government’s economic team had proved all projections and analyses wrong and for the first time, global economic institutions, the business community, and investors were united in acknowledging the government’s action plan.

The participants also commended the prime minister for his serious commitment to implementing institutional reforms, which had not been seen in Pakistan’s history before.

The participants were of the view that the improvement in the country’s tax system, ease of regulations, and the creation of a business and investor-friendly environment had contributed to the growth in all major sectors.

They noted that for the first time in history, there was easy access for the business community to the government’s economic team, and regular consultations are taking place.

The reduction of smuggling has also contributed to the increase in exports, which is a positive development, they said.

The meeting was attended by Jehangir Khan Tareen, Saqib Shirazi, Shehzad Saleem, Musaddiq Zulkarnain, Dr. Ejaz Nabi, Asif Peer, Zaid Bashir, and Salman Ahmed, as well as Federal Ministers Ahsan Iqbal, Rana Tanveer Hussain, Jam Kamal Khan, Ahmad Khan Cheema, Mohammad Aurangzeb, Minister of State Ali Pervez Malik, the Prime Minister’s Coordinator Rana Ehsan Afzal, and other senior officials.