PM Shahbaz Chairs Extended Session to Boost Economy

In a marathon session shortly after taking the oath of office, Prime Minister Muhammad Shahbaz Sharif chaired a lengthy meeting focusing on revitalizing the country’s economy. The session emphasized immediate discussions with the International Monetary Fund (IMF) regarding the Extended Fund Facility, as well as devising pragmatic measures to improve economic conditions.

Prime Minister Sharif issued directives to form committees to address economic revitalization, reduce the representation of government members on boards, and transition the power and gas sectors to smart metering. Furthermore, instructions were given to various agencies, including the Federal Board of Revenue (FBR), to implement automation promptly.

According to a statement released by the PM’s office on Monday, detailed briefings were provided on the country’s economic situation. Prime Minister Sharif stressed the government’s commitment to enhancing investment opportunities and facilitating the business community with adequate facilities. Notably, the Federal Board of Revenue has already cleared tax refunds worth 65 billion rupees on the Prime Minister’s instructions.

The Prime Minister underscored the significance of transparency within the Federal Board of Revenue, urging immediate automation. He also emphasized streamlining government-owned entities to prevent further burden on the national economy, directing actionable steps to reduce their size or discontinue non-essential operations.

The Prime Minister hailed the Special Investment Facilitation Council as a crucial step towards economic stability, affirming plans for its further reinforcement. He announced that the next session would specifically focus on initiatives for immediate relief and facilitation for businesses, investors, and youth.

The session saw the participation of key figures including Senator Masood Malik, Members of the National Assembly Atta Tarar, Shazia Fatima, Rumeena Khurshid, Ahad Cheema, Jehanzaib Khan, and other prominent officials.