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Govt vows to address challenges, empower private sector

Privatization Minister urges private sector to drive national export growth
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April 03, 2024 (MLN): The economy is the top priority of the government, and it is taking all necessary steps to revive it by overcoming challenges and facilitating the private sector so that people can ultimately benefit, Federal Minister for Industries Rana Tanveer Hussain stated during a meeting on Tuesday.

According to a press release issued on the said day, Rana Tanveer Hussain convened a meeting with a delegation of Pakistan Industrial and Traders Associations Front (PIAF) led by Mian Shafqat Ali at the Ministry of Industries.

Rana Tanveer Hussain shared that the private sector can play a pivotal role in driving economic growth in the country.

The private sector is a key driver of innovation and bringing new business ideas.

Private companies should invest in research and development, which leads to new products and services that boost the economy and improve people's lives.

Government will extend full support to private sector by introducing right policies and reforms.

The visiting delegates suggested that government should promote private sector for uplift of the economy.

“The government should focus on agriculture, fisheries, special economic zones and agro-based industry for economic output,” visiting delegates added.

Federal Minister shared that the government is using one window operation for business and investment facilitation through the platform of the Special Investment Facilitation Council (SIFC).

Its primary objective is to facilitate foreign investments and stimulate the nation's economic growth by removing unnecessary barriers.

“We are focusing on economic growth instead of increasing taxation. Good governance is central to government and we are using minimum resources,” the minister added.

The Federal Minister expressed that any pragmatic suggestions from the private sector on economic growth will be welcomed and appreciated.

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Posted on: 2024-04-03T09:55:14+05:00