ISLAMABAD: Pakistan’s Caretaker Prime Minister, Anwaar-ul-Haq, has greenlit a series of practical measures aimed at reducing government expenditure, tackling the circular debt issue, and removing barriers to foreign investment to bolster the country’s economic revival.
Prime Minister Kakar presided over the 5th Apex Committee Meeting of the Special Investment Facilitation Council (SIFC), a hybrid civil-military forum tasked with framing economic policies and attracting foreign investment. The meeting in Islamabad saw the attendance of the Chief of Army Staff, Federal Cabinet members, Provincial Chief Ministers, and senior government officials.
During the meeting, relevant ministries presented their plans and roadmaps to address macroeconomic challenges, governance-related hurdles, and regulatory gaps, all with the goal of attracting domestic and foreign investment while stimulating economic growth.
Pakistan’s PM Stresses Strong Foundation for Economic Growth pic.twitter.com/Z2uyx9Yq32
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The committee deliberated on a range of short, medium, and long-term measures to achieve the desired economic outcomes. The Prime Minister approved several practical steps, which will be implemented promptly.
The Prime Minister urged the ministries to deliver optimal results, emphasizing the importance of establishing a strong foundation for the future government.
Pakistan’s Caretaker Govt Taking Serious Steps for Economic Growth
In a subsequent press conference in Islamabad, Interim Information Minister Murtaza Solangi highlighted discussions on improving the performance of state-owned enterprises, reducing the circular debt, and curbing the smuggling of various products and foreign exchange.
Finance Minister Shamshad Akhtar, Commerce Minister Gohar Ejaz, and Power Minister Mohammad Ali also participated in the press conference.
Akhtar emphasized a “whole-of-government” approach to improve the ministry’s divisions and foster holistic and consistent teamwork. She stressed the importance of fiscal stability, monetary policy coordination, and external policy alignment in macroeconomic management.
The government is determined to kickstart the economy and enhance the social safety net, with a focus on financial inclusion, support for the agriculture sector, and small and medium enterprises. Akhtar highlighted financial inclusion as a crucial element of the social safety net, with accelerated efforts to empower citizens economically.
She also noted the government’s commitment to defining a roadmap for macroeconomic management, with fiscal stability as the anchor and a structural adjustment reform program in progress.
