Pakistan PM forms committee to boost economic growth, seeks recommendations in two weeks

KARACHI: Prime Minister Shehbaz Sharif on Friday directed to form of a committee comprising industrialists and cabinet members to ensure sustainable economic growth, instructing it to offer recommendations within two weeks.
The move comes as Pakistan grapples with a fragile economy that has witnessed multiple boom-bust cycles over the past decades, forcing successive governments to seek external financial assistance, including repeated bailouts from the International Monetary Fund (IMF). Sharif’s administration is focusing on increasing exports and attracting investment to drive long-term growth.
The prime minister decided to set up the committee during a meeting with a delegation of prominent businessmen and industrialists, where he highlighted the government’s commitment to create a business-friendly environment.
“The prime minister has sought suggestions from business personalities and industrialists regarding sustainable improvement in the country’s growth rate,” said a statement released by his office after the meeting. “He has directed the formation of a committee comprising business figures, industrialists and government ministers.”
“This committee will provide recommendations to the government within two weeks to achieve sustainable growth,” it added.
Sharif emphasized that boosting exports was the most effective way to improve the growth rate, noting that his administration had been working to facilitate businesses and attract foreign direct investment.
He also pointed to the establishment of the Special Investment Facilitation Council (SIFC), which provides a one-window platform for investors, streamlining bureaucratic hurdles and offering incentives to businesses.
“The government is working on a priority basis to promote industry and business in the country,” he was quoted as saying during the meeting. “The business community and industrialists are the backbone of the country’s economy, and resolving their issues is our top priority.”
He highlighted recent improvements in macroeconomic indicators while acknowledging the need for further efforts to ensure the benefits of economic stability also begin to reach the public.