- Advertisement -
ISLAMABAD, Nov 14 (APP):Minister of State for Finance Bilal Azhar Kayani on Friday said the government was actively pursuing a comprehensive consultative process with chambers of commerce, trade associations, and exporters to boost export-led growth and strengthen the country’s economic foundations.
Responding to questions in the National Assembly, he said the Prime Minister personally chaired extensive interactions with the business community, including a recent three-hour session with representatives from major sectors to obtain feedback and guidance from those “directly engaged in economic activity”.
He said, on the Prime Minister’s instructions, he held monthly meetings with presidents of major chambers across the country to resolve issues related to taxation, energy costs, and business facilitation.
“Exports remain our top priority, and sustainable economic recovery will only come through export-led and private sector–driven growth,” he added.
Kayani said the National Export Development Board, chaired by the Prime Minister, was also actively reviewing export challenges and opportunities, while the government continued working on measures to ease energy costs and improve the overall business climate.
Addressing concerns regarding foreign companies exiting Pakistan, he clarified that while some international firms had restructured or divested due to global and strategic decisions, “several new international businesses have also entered the Pakistani market”.
He added that local enterprises had successfully acquired operations of some exiting firms, reflecting confidence in Pakistan’s improving economic trajectory.
On supplementary questions, he said the government was committed to developing a simplified and harmonized tax regime to reduce complexity, remove discrimination, and promote compliance. “We want every business to clearly understand a simple corporate income tax structure, along with fewer, streamlined taxes that encourage ease of doing business,” he added.
Kayani acknowledged the important contribution of the salaried class, describing them as “the backbone of the nation”, and said the government was fully aware of the burden they carried.
He added that while fiscal constraints had limited major relief this year, the government intended to support them in future budgets once additional fiscal space became available.
He said the government had significantly strengthened enforcement last year, leading to better tax net widening and increased revenue collection—progress also recognized by the IMF.
However, he stressed that focus would now shift toward sectors that continued to remain outside the tax net despite large incomes.
“Our goal is fair taxation—those who are already contributing should not be overburdened, and those who remain outside the system must be brought in,” he said.