ISLAMABAD: The government is intensifying its initiatives to improve the ease of doing business, aiming to foster economic growth, attract investment, and generate employment nationwide, according to Finance Minister’s Advisor Khurram Schehzad.

In a statement posted on the social media platform X, Schehzad highlighted several measures being implemented to support this mission. The cost of energy has been significantly reduced, dropping from 38 rupees per unit to 23 rupees per unit on additional consumption for a duration of three years. This measure is expected to provide considerable relief to both the industrial and agricultural sectors.

Schehzad also announced that interest rates have been halved, a move designed to enhance access to finance for businesses. The reform is part of a broader strategy to stimulate economic activity and support enterprises across the country.

In addition to financial adjustments, the government is rationalizing the tax structure. The focus is on addressing the undocumented economy while providing relief to the salaried class and the corporate sector. These changes aim to create a more equitable tax system and encourage compliance.

Regulatory reforms are another cornerstone of the government’s efforts. Schehzad emphasized that approvals and procedures are being expedited, with timelines being reduced from years to weeks or even days. This simplification is intended to remove bureaucratic hurdles and make it easier for businesses to operate and expand.

These initiatives are part of a comprehensive plan to create a more business-friendly environment, aiming to position the country as a competitive destination for investment and economic development.