Islamabad: Advisor to the Finance Minister, Mr. Khurram Schehzad, met with the leadership of the Pakistan Business Council (PBC) to deliberate on strategies aimed at enhancing investment, increasing private-sector involvement, and furthering the government’s structural reform agenda.

According to Press Information Department, the meeting focused on several key areas of economic reform, including the privatization of State-Owned Enterprises (SOEs) and the reduction of government involvement in commercial sectors. Discussions included the proposed privatization of power distribution companies, banks, and airports to boost efficiency and attract investment through greater private-sector participation.

The agenda also covered the potential for major public-sector entities to enter the capital markets via Initial Public Offerings (IPOs), with entities like State Life Insurance Corporation (SLIC) mentioned. The PBC leaders expressed their support for the government’s rightsizing agenda, highlighting the need for a streamlined and efficient public sector. They agreed to provide detailed recommendations on privatization and SOE restructuring.

Tax rationalization and the development of a medium-term tax policy framework were also discussed, emphasizing the need for a predictable and competitive tax regime. The PBC leadership commended the Federal Budget FY27’s shift towards broadening the tax base and encouraging economic activity. Mr. Schehzad emphasized the importance of ongoing consultation with the business community to shape economic policies.

Both parties reaffirmed the importance of continued collaboration between the government and the business community to support the reform process, boost investor confidence, and facilitate private-sector investment and sustainable economic growth.