PM Shehbaz Sharif pledges to improve business environment

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Monday assured that the current administration will make great efforts to facilitate commerce and make it easier for businessmen to do business in order to boost economic growth.

Speaking at the opening of the six-star hotel in Islamabad, the prime minister reaffirmed the government’s dedication to promoting advancement in a number of areas and voiced confidence about the nation’s economic recovery.

“It is a proud moment for Pakistan that a state-of-the-art international hotel has been launched. I commend the Centaurus Group for their nation-building efforts and thank the Movenpick management for bringing world-class hospitality to our country,” said the Prime Minister.

PM Shehbaz highlighted the government’s efforts to stabilize the economy, noting that inflation has reduced below 5 per cent, and the banking policy rate was under 13 per cent.

He revealed that further reductions are expected following the State Bank of Pakistan’s (SBP) meeting.

PM Shehbaz emphasised the growth in exports, particularly in the IT sector, and outlined the government’s vision for economic development in agriculture, industry, IT, mining, and minerals.

Addressing the challenges faced by the industrial and agricultural sectors due to high power tariffs, the Prime Minister assured participants that the government was working tirelessly to bring substantial reductions in energy costs in the coming months.

“A competitive industrial sector is essential for economic growth, and we are committed to easing the cost of doing business,” he said.

PM Shehbaz reaffirmed the government’s stance on downsizing and rightsizing public entities to reduce government expenses.

Announcing a new initiative for the privatization of Pakistan International Airlines (PIA), he invited Pakistani investors to participate in a transparent bidding process.

“Just as banks were successfully privatized during the 1990s under Prime Minister Nawaz Sharif and are now thriving, PIA too will be transformed into a world-class airline, just as it was in the 1960s,” he stated.

The prime minister assured the audience that Pakistan is on track to conclude its final IMF program.

He highlighted ongoing efforts to remove obstacles to foreign investment, noting that initiatives to improve the ease of doing business will soon be launched.

“Pakistan will resurrect as a great nation through the collective efforts of stakeholders and nation-builders,” he said.

The prime minister lauded the Centaurus Group for its contribution to nation-building and expressed hope for more such investments in the future.

PM Shehbaz reaffirmed his government’s commitment to fostering economic stability, promoting commerce, and ensuring Pakistan’s resurgence as a progressive and thriving nation.