Islamabad:
The Pakistani Trade and Industry Federation (FPCCI) shared a comprehensive economy map with Finance Minister Muhammad Aurangzeb and his team on Tuesday.
A FPCCi delegation, led by Atif Ikram Sheikh and consists of SM Tanveer leader and FF Steel chief executive, Senator Noman Wazir Khattak, met with the finance minister, where they emphasized that the map had developed to promote politics and developed a policy A strategy that could overcome the political politician to separate and face economic challenges.
Their aim is to liberate the country from economic malaise, giving priority to its growth and development to meet the needs of the growing population, especially the youth, which were the core of Pakistan’s demographic structure.
Senator Khattak gave a detailed presentation on the proposals and recommendations described on the map of the economy. Basic recommendations included the reorganization of specialized public services by creating special groups in critical areas such as energy, funding, industry and health care to lead policy formulation and ensure documented decision -making.
The map demanded to embrace solar and wind energy, regarded as the cheapest sources of power and maintaining charges for the competitive trade market market (CTBCM) at a maximum of RS4 per kilowatt -hour.
He emphasized more emphasis on trade and growth funding institutions, with at least 20% of lending being directed to long -term capital spending (CAPEX) and 10% towards CAPEX. A stable exchange rate is recommended to support exports and discourage imports that did not comply with the regulations on Pakistan’s standards and the Audit Authority (PSQCA). The map emphasized the importance of a uniform gas pricing structure for all industries to promote their growth.
Other proposals included the transfer of state ownership (SOES) to employees to allow them to manage these businesses or privatize them and convert their pension funds into shares.
The presentation proposed strategic reforms on various fronts, including debt management, commercial corporate relations, tax compliance, energy efficiency and exploitation of mineral resources. He emphasized the need to adopt a progressive tax model for agriculture, the best governance structures, retirement reforms and social welfare, digitization and improved bankruptcy law. Finance Minister Muhammad Aurangzeb, while praising the preparation of the map of the economy, noted that such initiatives were critical at this point.
He recalled his involvement in the training of a similar map by the Pakistani Business Council in 2020 and underlined the importance of consolidating all interested parties in a common platform to address the challenges of lowering living standards and the achievement of sustainable economic growth.
He reiterated that the quick corrections would not be enough and a steady, unified attempt was required to drive Pakistan’s economic recovery.
Aurangzeb also underlined the ongoing reforms aimed at macroeconomic stability, taxation, energy and federal government rights. Assured the commitment of commitment to resolving pressing issues.
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