Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday underscored the importance of making exports the cornerstone of Pakistan’s economic growth strategy, stressing that policies must be geared towards enhancing exporters’ competitiveness in regional and international markets.
Exports must remain at heart of Pakistan’s growth strategy: Aurangzeb
ISLAMABAD, Nov 2 (APP): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday underscored the importance of making exports the cornerstone of Pakistan’s economic growth strategy, stressing that policies must be geared towards enhancing exporters’ competitiveness in regional and international markets.
During a meeting with President of the Lahore Chamber of Commerce and Industry (LCCI), Ali Hussam Asghar, the minister discussed measures to promote sustainable, export-led economic growth, support small and medium enterprises (SMEs), and improve the overall business environment to enhance the competitiveness of Pakistani businesses.
The minister highlighted the government’s commitment to achieving sustainable economic growth through greater private-sector participation, enhanced competitiveness and an expanded export base.
He emphasised that exports must remain central to the country’s growth strategy and that policies should facilitate exporters in becoming more competitive in regional and international markets.
He emphasized the need for a predictable policy environment, streamlined regulations and stronger institutional coordination to improve the ease of doing business.
He also stressed addressing business concerns, particularly those of SMEs, to encourage investment, boost productivity and support job creation and business expansion.
The minister stressed the need to improve access to finance and encourage investment in modernisation, capacity-building and business expansion through targeted measures.
He said taxation and regulatory policies should promote productive economic activity, documentation and a broader tax base. He also emphasised evidence-based policymaking and consultation with the business community to assess the impact of policy measures on investment, businesses and employment.
Highlighting the importance of policy continuity, he underscored the role of the Tax Policy Office in engaging the private sector and developing a medium-term tax policy framework to provide businesses with greater certainty for investment and long-term planning.
He reaffirmed the government’s commitment to working with chambers of commerce and industry and other stakeholders to address business concerns, support SMEs and facilitate exporters, stressing that private-sector collaboration is vital for promoting investment, productivity and export-led growth.
On the occasion, Ali Hussam Asghar shared the LCCI’s perspective on promoting SMEs, improving access to finance and facilitating business expansion.
He emphasised the importance of a supportive business ecosystem, greater policy predictability, modernisation and export growth. He also highlighted the importance of continued consultation with chambers of commerce and industry to ensure that business policies address ground-level challenges and support sustainable economic activity.
The discussion also covered ways to strengthen the SME sector as an important driver of economic activity, exports and employment.
The meeting was also attended by Minister of State for Finance, Bilal Azhar Kiyani; Governor of the State Bank of Pakistan, Federal Secretary, Finance; and senior representatives from the Tax Policy Office, Federal Board of Revenue (FBR) and Finance Division.
