Pakistan: PIBF presents a seven-point economic revival agenda
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Pak International Business Forum (PIBF) has proposed a seven-point economic revival agenda for the upcoming federal budget, urging the government to introduce business-friendly reforms aimed at restoring industrial growth, strengthening exports, reducing inflationary pressures and improving the overall investment climate in the country.
PIBF President Dr Mushtaq Mangat said Pakistan’s economy requires stable, growth-oriented, and long-term policies instead of temporary fiscal measures. He observed that businesses are currently facing immense pressure due to high interest rates, expensive energy, taxation complexities, and rising fuel costs.
The PIBF leadership, including Secretary General Muhammad Ejaz Tanveer and Chief Organizer Muaz Qazi, emphasized that immediate structural reforms are essential to revive investor confidence and economic activity.
The forum called for rationalization of interest rates, stating that expensive borrowing has severely affected industrial expansion, particularly for small and medium enterprises. PIBF also urged the revival of Development Finance Institutions (DFIs) and the provision of targeted financing facilities for export-oriented sectors to promote investment and industrial growth.
On taxation, PIBF stressed the need to broaden the tax base while lowering tax rates and simplifying compliance procedures. The forum proposed a digitized single-window tax system to reduce procedural hurdles and improve transparency. It also called for consistent economic policies and incentives for compliant taxpayers and reinvestment.
Discussing the energy sector, Muaz Qazi said high electricity and gas tariffs have significantly increased production costs and reduced the competitiveness of Pakistani products in global markets. PIBF demanded regionally competitive energy tariffs for industries, especially exporters, along with structural reforms to reduce line losses and improve governance of distribution companies.
The forum also highlighted the negative economic impact of rising petroleum prices, stating that increasing fuel costs contribute directly to inflation in transport, agriculture and manufacturing sectors. PIBF proposed the establishment of a fuel price stabilization mechanism and the rationalization of petroleum levies to provide relief to consumers and businesses.
On ease of doing business, PIBF urged the government to establish a fully digital one-window operational framework to simplify approvals, registrations and regulatory compliance. The forum also emphasized policy continuity, reduction in unnecessary regulations and introduction of fast-track commercial dispute resolution mechanisms to encourage local and foreign investment.
Muhammad Ejaz Tanveer stressed the importance of human capital development, stating that Pakistan must align education and technical training with industry requirements. PIBF recommended expansion of vocational training, apprenticeship programs, and digital skills development, particularly in IT, freelancing and remote work sectors, to enable Pakistani youth to compete globally.
The forum also proposed a “District Economy Model” aimed at promoting decentralized economic growth by developing each district according to its local strengths and resources. PIBF stated that the model would help reduce migration pressures on major cities, generate employment opportunities at the local level, and promote balanced regional development.
Dr Mushtaq Mangat urged the government to incorporate these recommendations into the upcoming federal budget and broader economic policymaking framework to ensure sustainable growth, industrial revival and long-term economic stability in Pakistan.
Reference Link:- https://www.brecorder.com/news/40420322
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
