Islamabad: Prime Minister Shehbaz Sharif highlighted his government’s ongoing efforts to digitize the economy and implement broad economic reforms during a meeting with a delegation from Harvard Business School. The discussion focused on significant initiatives including the transformation of the Federal Board of Revenue (FBR) to streamline taxation and enhance economic stability.
According to Ministry of Information and Broadcasting, the Prime Minister expressed his commitment to overcoming economic challenges posed by both external and internal debt. He emphasized that the digitization of the FBR is a critical step towards expanding the tax base and stabilizing the economy.
The initiatives mentioned by the Prime Minister include easing the business environment, reducing government expenditures through downsizing, and advancing policies to diminish the elite’s control over resources. He also discussed enhancing the welfare of middle and lower-class citizens and promoting export-led growth to mitigate the trade deficit.
Further, the Prime Minister revealed plans for a home-grown economic strategy set to unfold over the next five years, developed in collaboration with economic experts. This plan aims to modernize key industries, including the sector of precious and rare gemstones, and boost the agriculture sector with Chinese expertise.
Additionally, he outlined efforts in education and vocational training, such as expanding the network of Daanish Schools and a new partnership with Huawei to train 200,000 students annually in IT and telecommunications. The government is also focusing on involving young overseas Pakistanis in national development through various advisory councils.
The Prime Minister’s comprehensive approach aims to harness Pakistan’s natural and human resources to foster sustainable economic growth and improve the overall quality of governance.