Pakistan’s Federal Minister Emphasizes Private Sector’s Role in Economic Revival

Islamabad, Rana Tanveer Hussain, the Federal Minister for Industries and Production, in a meeting with the Pakistan Industrial and Traders Associations Front (PIAF), emphasized the crucial role of the private sector in driving Pakistan’s economic growth. The meeting highlighted the government’s commitment to facilitating private sector initiatives and streamlining investment processes to overcome economic challenges.

According to Press Information Department, Hussain, during the discussions with PIAF representatives led by Mian Shafqat Ali, conveyed the government’s focus on economic recovery and support for private sector-led development. He pointed out the significance of innovation and research in fostering new business opportunities and improving societal welfare. The minister affirmed that the government is set to back private enterprises through relevant policies and reforms.

The delegates at the meeting urged the government to prioritize sectors like agriculture, fisheries, and agro-based industries and to leverage special economic zones for enhancing economic output. Hussain detailed the government’s strategy of facilitating business and investment through the Special Investment Facilitation Council (SIFC), aimed at fostering foreign investment and catalyzing economic progress with a minimal reliance on tax increases.

The meeting concluded with an assurance from Hussain that the government is open to practical suggestions from the private sector to stimulate economic growth and uphold good governance principles.

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