No new taxes in one year, export-led growth is priority: PM Shehbaz

Prime Minister Shehbaz Sharif has said that the government has not imposed any new taxes during the past year adding that export-led economic growth remains a key priority for Pakistan.

ISLAMABAD: Prime Minister Shehbaz Sharif has said that the government has not imposed any new taxes during the past year adding that export-led economic growth remains a key priority for Pakistan.

The prime minister made the remarks while speaking after a meeting with a delegation comprising prominent industrialists and business leaders.

Shehbaz Sharif said the government was focused on strengthening the economy through higher exports and would work to overcome all challenges hindering export growth.

He said the government had recovered Rs800 billion through enforcement measures during the past year highlighting the administration’s efforts to improve revenue collection without introducing new taxes.

The prime minister also emphasized the importance of consultation with the business community. He said industrialists and business leaders had been consulted before the presentation of the federal budget adding that the government had undertaken fundamental reforms despite difficult economic conditions.

According to the prime minister continued engagement with the business community would help address economic challenges and create a more supportive environment for investment and business activity.

The delegation of business leaders appreciated the government’s consultation process and stressed that dialogue between the government and the business community should continue.

The business representatives said continued consultation would be beneficial for the country’s economy and thanked the prime minister for maintaining engagement with the business community.

Shehbaz Sharif said the government was determined to address the challenges facing exports and create conditions that could support sustainable economic growth. He reiterated that increasing exports was an important component of the government’s broader economic strategy.

The government has been emphasizing structural reforms and measures aimed at improving economic stability while encouraging investment and industrial activity.

The prime minister’s comments come amid ongoing efforts to strengthen Pakistan’s economy and improve its external position. Increasing exports is considered an important avenue for generating foreign exchange and supporting long-term economic stability.

Shehbaz Sharif also reiterated the government’s commitment to working with industrialists, exporters and other stakeholders to improve economic performance.

The meeting with business leaders was part of the government’s ongoing engagement with the private sector, with discussions focused on economic reforms, exports and measures to support businesses.

The prime minister maintained that the government would continue pursuing reforms and policies aimed at achieving sustainable and export-led economic growth while addressing the concerns of the business community.