PM Shehbaz vows to enhance ease of doing business and support investors
Business
It is a proud moment for Pakistan that a state-of-the-art international hotel has been launched.
ISLAMABAD (Web Desk) – Prime Minister Shehbaz Sharif on Monday assured extensive efforts of the incumbent government to ensure ease of doing business and trade facilitation to businessmen for reviving economic growth.
The prime minister, addressing the inauguration of six-star Movenpick Hotel in the federal capital, expressed optimism about the country’s economic revival and reiterated the government’s commitment to fostering progress across various sectors.
“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.
He highlighted the government’s efforts to stabilise the economy, noting that inflation has reduced below 5 percent, and the banking policy rate was under 13 percent.
He revealed that further reductions are expected following the State Bank of Pakistan’s (SBP) meeting.
He emphasized 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.
He assured the audience that Pakistan is on track to conclude its final IMF program.
The prime minister 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.
Prime Minister Shehbaz Sharif reaffirmed his government’s commitment to fostering economic stability, promoting commerce, and ensuring Pakistan’s resurgence as a progressive and thriving nation.
