FinMin, PBC discuss investment, reforms

Federal Finance and Revenue Minister Muhammad Aurangzeb met the newly elected Pakistan Business Council chairman, Ziad Bashir, and chief executive Javed Kureishi, according to a finance ministry statement issued on Tuesday. The two sides reviewed investment prospects, competitiveness and the reform of regulations. Aurangzeb argued that growth led by private enterprise should get greater attention, as firms must keep pace with technological and digital change.

He asked the council to carry out concise research focused on individual sectors and to put forward practical proposals that could inform policymaking. Aurangzeb also stressed drawing lessons from experience abroad and keeping national policies in step with changing international practice. On financing, he raised the possibility of drawing in overseas funds through the US International Development Finance Corporation and the US Export-Import Bank, while calling for projects that are ready for investors.

The discussion also took in the country's tax approach, along with work on a medium-term framework for taxation. The finance ministry's account presented the session as a policy discussion, not a formal decision.