Karachi: Business leaders in Pakistan have expressed strong support for the recent commitments made by Finance Minister Muhammad Aurangzeb Khan regarding economic reforms and private sector-led growth. Mian Zahid Hussain, a prominent figure in the business community, highlighted the Finance Minister's clear economic roadmap as aligning with the goals of Pakistani businesses.

Mian Zahid Hussain, who holds several key positions including President of the Pakistan Businessmen and Intellectuals Forum, commended the Finance Minister's view of the private sector as the primary driver of economic growth. He noted that the government’s role should be to create a supportive environment, a stance long advocated by the business community. Hussain also pointed out that the Minister's positive outlook on achieving a respectable GDP growth rate sends an encouraging message to both local and international investors.

The business leader welcomed the Finance Minister's commitment to structural reforms, particularly in taxation, energy, and the privatization of State-Owned Enterprises (SOEs). He stressed that broadening the tax base and resolving the energy sector's circular debt are crucial steps for reducing business costs and ensuring fair competition.

Hussain highlighted the necessity of economic liberalization and trade competitiveness to increase exports, echoing the Finance Minister's call for an 'East Asia moment' for Pakistan. The business community supports moving away from protectionist policies that have historically stifled industrial growth.

The Minister's focus on leveraging CPEC infrastructure through Special Economic Zones and attracting investments in vital sectors such as minerals, mining, agriculture, IT, and pharmaceuticals is seen as a key opportunity for private sector involvement and expansion.

While emphasizing the importance of macroeconomic stability, Hussain urged the government to implement swift policies that transform stability into tangible growth for businesses. He called for reducing bureaucratic hurdles, lowering energy tariffs, and simplifying the tax system. Hussain expressed confidence that the Finance Minister's banking background will inform a pragmatic approach and welcomed collaboration for the country's economic success.

The business community, as reiterated by Hussain, stands behind the government's reform agenda and anticipates ongoing consultation to ensure that policies are grounded in reality and contribute to long-term economic prosperity.