FLASHNEWS:

Prime Minister Shehbaz Sharif Focuses on Enhancing Pakistan’s Economic and Export Capacities

Karachi: Prime Minister Shehbaz Sharif is actively working to bolster Pakistan's economic, defense, and foreign affairs, as per Malik Khuda Bakhsh, the Convener of the FPCCI's Energy Standing Committee. During a briefing that followed the Prime Minister's visits to key maritime infrastructures in Karachi, Bakhsh highlighted the national and business community's support for these initiatives.

According to Federation of Pakistan Chambers of Commerce and Industry, Bakhsh emphasized the importance of maintaining the Lyari Expressway open 24/7 for cargo traffic to facilitate timely export deliveries. He welcomed developments like the connection of Malir Expressway to the port and the expansion of rail transport capacities, which are expected to significantly enhance the efficiency of goods transportation to and from Karachi Port Trust and Port Qasim.

Bakhsh also noted the strategic significance of Pakistani ports for Central Asian states and suggested that improvements in port facilities and operations could substantially increase Pakistan’s earnings in foreign exchange. The proposed enhancements include installing modern scanners, reducing clearance times, and engaging private sector stakeholders to improve ease of business and investment conditions.

Furthermore, the government was urged to expand the tax base beyond the current taxpayers to strengthen economic stability and to develop capacities for repaying loans. Bakhsh relayed insights from a recent discussion with Finance Minister Muhammad Aurangzeb, emphasizing the need for a proactive approach from the Federal Board of Revenue to achieve these goals. Boosting exports was marked as a crucial strategy to generate essential foreign exchange in light of the prevailing economic challenges.