Govt targets lower energy costs, easier business regulations

Prime Minister Shehbaz Sharif said the government remains committed to widening commercial activity and cutting business costs, according to Mettis Global. He met a group of prominent industry leaders and businesspeople in Islamabad. He named lower energy costs as a key priority and told authorities to move swiftly on problems the business community had put forward.

The premier said the recently formed Trade Facilitation Board would be strengthened into a working platform for trade, and private sector proposals would be weighed to improve it. He also pointed to the Special Investment Facilitation Council, which offers investors a single window for investment and commercial dealings. A regulatory guillotine is under way to strip out needless rules, streamline procedures and reduce compliance expenses.

Digitisation at the Federal Board of Revenue has advanced considerably, and enforcement steps brought in Rs800 billion in the last financial year. Officials gave the delegation updates on port modernisation, reduced port charges, the upgrade of Motorway M-10 and the Pipri Freight Corridor, and the planned M-13 between Kharian and Rawalpindi. The business leaders welcomed improved macroeconomic stability and the $3bn bond issuance, and they praised the Export Development Fund and FBR digitisation.