Islamabad: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held discussions with Mr. Ali Hussam Asghar, President of the Lahore Chamber of Commerce and Industry (LCCI), focusing on strategies for sustainable economic growth driven by exports, support for small and medium enterprises (SMEs), and improvements to the business environment.

According to Press Information Department, Mr. Aurangzeb emphasized the government’s commitment to fostering economic growth by enhancing private-sector participation, competitiveness, and expanding the country’s export base. He stressed the critical role of exports in the national growth strategy, advocating for policies that bolster exporters’ competitiveness in regional and international markets.

The Finance Minister outlined the need for a facilitative policy environment to improve ease of doing business, emphasizing simplified regulatory processes and effective institutional coordination. He highlighted the importance of addressing business concerns, particularly for SMEs, to stimulate investment, productivity, employment, and business expansion.

Mr. Asghar conveyed the LCCI’s views on supporting SMEs, improving financial access, and facilitating business growth. He highlighted the necessity of a supportive ecosystem, policy predictability, modernization, and export growth, while advocating for ongoing consultation with business chambers to address real-world challenges and support sustainable economic activities.

Discussions included strengthening the SME sector, a key driver of economic activity, exports, and employment, with a focus on improving financial access and encouraging investment in modernization. The Minister stressed the need for practical measures to promote business expansion, investment, and economic growth.

Senator Aurangzeb noted that taxation and regulatory policies should support productive economic activity, promote documentation, and broaden the tax base. He highlighted the importance of evidence-based policymaking and constructive engagement with the business community to evaluate potential impacts on businesses, investment, and employment. Simplifying procedures and building trust between businesses and government institutions were also emphasized.

The Minister underscored the importance of policy continuity and predictability, mentioning the Tax Policy Office’s role in engaging with the private sector and developing a medium-term tax policy framework. He affirmed the government’s commitment to working with business chambers, industry representatives, and stakeholders to address business-related issues, promote SMEs, and support exporters, emphasizing the necessity of sustained collaboration with the private sector for a competitive, investment-driven economy.

The meeting included the Minister of State for Finance Mr. Bilal Azhar Kiyani, the Governor of the State Bank of Pakistan, the Federal Secretary Finance, and senior representatives from the Tax Policy Office, Federal Board of Revenue (FBR), and Finance Division.