PM Shehbaz consults experts to bring financial stability
ISLAMABAD: With the country set to approach the International Monetary Fund (IMF) for a fresh programme, Prime Minister Shehbaz Sharif on Wednesday decided to include global experts and all stakeholders in a consultative process aimed at improving the country’s economic health and financial stability.
Chairing a meeting on economic revival and reforms, the PM said he would oversee the implementation of these economic reforms himself.
“The prime minister wants to take advantage of the experience of economic experts working in both, the public and private sector,” Information Minister Attaullah Tarar told Dawn after the meeting.
Quoting the example of Dr Ijaz Nabi, whose services could be utilised as he had already done a lot of work in the social sector in Punjab, he said the prime minister was of the view that experts from the private sector should also be taken on board.
During the meeting, the prime minister said strengthening of economy was among the top priorities of his government, vowing that they would work to provide all facilities to export-oriented industries and increase the global market outreach of the country’s exports.
PM Shehbaz also sought progress reports on economic reforms in different sectors and directed to give vital significance to value addition in the country’s export policy.
He further said his administration would increase the tax net instead of increasing taxes, besides supporting small, medium and large industries in the country.
The meeting was attended by federal ministers Ahsan Iqbal, Muhammad Aurangzeb, Jam Kamal Khan, Ahad Khan Cheema, Attaullah Tarar, Dr Musadik Malik, Sardar Awais Khan Leghari, State Bank of Pakistan Governor Jameel Ahmed, FBR Chairman Malik Amjad Zubair Tiwana, and Dr Ijaz Nabi, among other officials.
During the meeting, different proposals regarding reforms in different sectors of the economy and a comprehensive roadmap for an export surge, reforms in the power sector, revenue generation and industrial development were presented.
The prime minister also directed for submission of a comprehensive plan to enhance the existing capacity of the power sector.
He was of the view that they should also equip the youth with the latest and international standard education and skills and directed the launching of a skill development programme in Azad Jammu and Kashmir and Gilgit Baltistan.
PIA privatisation
Earlier, in an important step towards the PIA’s privatisation, the federal cabinet approved the formation of a holding company for the flag carrier. The PM directed to further speed up the privatisation besides ensuring transparency in the process.
The premier also ordered the formation of a committee to outsource airports to help rake in investment from global investors in the country’s aviation sector.
The cabinet, on the recommendation of the commerce ministry, approved the formation of a committee for determining the exemption of bans regarding exports and imports, with the commerce minister appointed as its convener. The committee would determine the said exemption under section 21 of the Trade Organisations Act 2013 and in this regard, it would also hear the appeals.
The cabinet decided to send the recommendations of a federal commission established on the order of the Islamabad High Court regarding the detention of ex-MNA Dr Shireen Mazari to the relevant federal and provincial authorities. The meeting also repatriated District and Sessions Judge Ghulam Shah, who was working on deputation in Banking Court-II, Hyderabad, to his department.
Published in Dawn, March 21st, 2024