Shehbaz Sharif targets lower energy costs and regulatory reform

Prime Minister Shehbaz Sharif has reaffirmed the Pakistani government’s commitment to fostering an investor-friendly environment by lowering energy costs and reducing business regulations. During a meeting with industrialists and entrepreneurs in Islamabad, the Prime Minister highlighted several initiatives aimed at economic growth, including a ‘regulatory guillotine’ designed to eliminate unnecessary procedures and reduce compliance costs.

Sharif noted that the Special Investment Facilitation Council (SIFC) is providing a one-window mechanism for commercial activities, while the Trade Facilitation Board is being strengthened to support trade. He also emphasized the importance of workforce development to meet emerging market needs.

Regarding fiscal management, the Prime Minister reported that enforcement measures by the Federal Board of Revenue (FBR) generated Rs800 billion in the last financial year without the imposition of new taxes. He attributed recent macroeconomic improvements to sustained teamwork between the government and the private sector, noting that these structural reforms have facilitated positive interactions with the International Monetary Fund (IMF).