The prime minister expressed these views while chairing the first meeting of the Economic Advisory Council, PM Office Media Wing said in a press release.
The meeting was attended by council members including Jahangir Khan Tareen, Saqib Sherazi, Shahzad Saleem, Mussadiq Zulqarnain, Dr Ejaz Nabi, Asif Pir, Zaid Bashir, Salman Ahmed, and Sheharyar Chishti. Federal Ministers Ahad Khan Cheema, Ahsan Iqbal, Muhammad Aurangzeb, Ali Pervaiz Malik, Deputy Chairman Planning Commission, Dr Jehanzeb Khan, PM Coordinator Rana Ahsan Afzal, governor SBP and relevant senior officials were also present.
PM Shehbaz observed that the positive trends in the stock market reflected the trust of the business community and investors in the government’s policies, adding they would provide further facilities to the foreign investors and business community in the next fiscal budget.
The prime minister said that they would reduce the tax ratio on the common man and would increase the number of tax filers.
For the digitization of the country’s economy, they were taking steps on a priority basis, he said, adding that they would ensure the provision of quality seeds and timely supply of fertilizers to the farmers for increasing their yield per acre.
He further assured to promotion of small and medium-level industries to save agricultural products from wastage.
foreign investors and business people
The prime Minister directed for removal of all hurdles in acquiring visas by foreign investors and business people.
The meeting was apprised that due to the government’s investment and business-friendly policies, the confidence of the local and foreign investors had been strengthened which was reflected in the bullish trends of the stock market.
Giving briefing over the economic indicators, the meeting was apprised that during the third quarter of the current fiscal year, the agri sector showed a growth rate of 6.25 percent which was higher by 2.27 percent in the corresponding period last year.
Similarly, the industrial and service sectors also witnessed a tangible growth rate. The inflation rate had been reduced from 38 percent to 17 percent and the government was immediately ensuring its trickle-down effects upon the common man.
During the meeting, the council members presented different proposals for economic stability and different sectors.
PM Shehbaz directed for submission of comprehensive recommendations in the next meeting related to necessary steps for increasing the country’s exports.