Lahore: Federal Minister for Industries and Production, Rana Tanveer Hussain, addressed the Lahore Chamber of Commerce and Industry, outlining the government’s strategies for economic revival and industrial growth. He emphasized the administration’s commitment to inclusive development and detailed the policies being implemented to support both the industrial and agricultural sectors.

According to a statement by Press Information Department, the minister highlighted last year’s agricultural growth rate of 6.4% as evidence of the government’s effective strategic measures. The policy framework, he explained, has been crafted with insights from international experts, bureaucrats, and technocrats to ensure sustainable growth. The Pakistan Muslim League (N) has consistently prioritized economic stability, introducing innovative programs to bolster key sectors whenever in power.

Rana Tanveer Hussain discussed ongoing efforts to renegotiate agreements with independent power producers, which aim to provide relief to businesses and the public. Optimistically, he forecasted that significant improvements would be apparent by April of the following year. He urged industrialists to contribute to economic revival, acknowledging challenges but emphasizing collective effort for stabilization.

The minister also assured attendees of substantial government support, mentioning the reduction of the interest rate from 22% to 12% within ten months. This reduction, linked with inflation, is intended to create a balanced monetary policy. Additionally, he highlighted actions taken to ensure the autonomy of the State Bank of Pakistan.

In closing, Rana Tanveer Hussain encouraged the business community to remain steadfast in their efforts to keep industries operational, thereby contributing to Pakistan’s progress during challenging times.