Federal Finance Minister Senator Mohammad Aurangzeb has said that every sector has to play a role in Pakistan’s economic recovery, Pakistan’s economic recovery demands collective responsibility. We cannot put this burden on the formal sector and the salaried class only.
According to the Finance Ministry, he expressed these views while talking to a delegation led by the Pakistan Association of Large Steel Producer (PALSP) under the leadership of Chief Abbas Akbar Ali.
During the meeting, the delegation briefed about important issues such as high energy costs, regulatory contradictions, and a stable policy environment for lasting investment.
He also mentioned the impact of tax policies on formal businesses and requested the government to support equal opportunities.
The Finance Minister acknowledged the industry’s concerns and reaffirmed the government’s commitment to support the economy’s productive sectors.
He said that the steel sector plays an important role in the development and employment of infrastructure in the country and assured that their points will be included in the budget -related meetings and policy consultations.
During the talks, Senator Mohammad Aurangzeb emphasized that Pakistan’s economic recovery demands collective responsibility.
He said that every sector has to play its role for the stability and development of the economy. We cannot put this burden only on the formal sector and the salaried class.
He further explained that the government is taking steps to expand the tax net, reduce dependence on more taxed segments, and bring in a formal circle of non -documentary economy under a comprehensive strategy.
In this regard, he said that the Prime Minister himself was leading the meetings regularly to strengthen economic management and ensure equality in all fields.
The Finance Minister appreciated the constructive participation of the PALSP and called for continuous communication and practical reforms between the government and the industry.
He assured that the government’s economic policy would be based on transparent, comprehensive, and development. The meeting ended with the mutual agreement that contacts would be continued in the future and work would be done to improve industry policy.
Reforms in the energy sector are among the government’s top priorities
A delegation of the All Pakistan Ceramic Tiles Manufacturers Association met with the Finance Minister led by Abdul Rahman Tali.
Speaking on the occasion, Muhammad Aurangzeb said that the government is taking reform measures for reliable and reliable prices (affordability, reliability) and effective pricing, while the government is constantly consulting with stakeholders to simplify regulatory procedures, reduce the cost of compliance, and stabilize policy.
The delegation gave a detailed briefing of the industry, saying that the daily production capacity of ceramic tiles in Pakistan is about 5 million sixty thousand square meters, with more than Rs 100 billion investment, about 60 % of foreign capital, especially from China.
He said that the industry has made significant progress in dependence on local resources. Import dependence has dropped from 74 % to only 4 %, and now almost all raw materials and manpower are available locally.
The delegation vowed to bring the target to 1 % soon, and called the ceramic industry a bright example of local industrial capacity.
The Finance Minister appreciated the efforts of the localization of the sector and acknowledged its role in importing, providing employment, and the role of domestic value chains.
Referring to the latest technology and high quality local production in ceramic units during a recent visit to Gujranwala, he said that industries like ceramic prove that Pakistani manufacturing can meet world standards with the right policy support.
The meeting also discussed issues related to reform of energy sector and improving business ease in the talks with the delegation.
The Finance Minister assured that reforms in the energy sector are among the government’s top priorities, and the government is taking reform measures for affordability, reliability, and effective pricing.
Referring to the Ease of Doing Business, he said the government was constantly consulting with stakeholders to simplify the regulatory procedure, reduce the cost of compliance and stabilize policy.
The Finance Minister also emphasized that raising the tax net is essential for the financial balance and promoting justice in the economy.
He made it clear that the government is determined to transfer the tax burden to the sectors that have been non -documentary or less taxed so far, rather than put the burden on the formal sector and the salaried class only.
In this regard, he said that the Prime Minister is personally leading high -level meetings to advance reforms for transparency, documentary system, and economic equality.
The delegation of the Association appreciated the government’s comprehensive consultation process and vowed to support government policies for Pakistan’s industrial competition and economic stability.
Review meeting on national initiatives for guaranteed loan facility for small farmers
According to the Finance Ministry, the meeting briefed on the progress and recommendations of the task force on providing formal loan to small farmers without bail.
The meeting was attended by senior representatives of Pakistan’s financial sector, commercial banks, development financial institutions (DFIs), regulators and development sector experts, who are the central part of the task force.
The focus of the meeting was the recommendations submitted under the ‘National Substance Farmers Support Initiative’, which aims to open the way for small -scale farmers to open a guarantee without guaranteeing technology -based solutions.
The Finance Minister was informed that these recommendations were prepared after a comprehensive analysis, identifying the practical and systematic challenges facing small farmers, especially the divisions.
The move is aimed at incorporating small farmers into the formal financial system, mobilizing the rural economy and strengthening food security.
The Finance Minister was also informed that a sustainable and rural development model has been developed for the comprehensive support of the farmers, which will be fully -based technology to ensure transparency, performance and ease for the consumer.
The scheme will be implemented all over the country as a federal program and aims to increase agricultural production, improve food security and play a significant role in the domestic economy through a comprehensive promotion of agricultural sector.
The Task Force presented a new score card at the meeting, which has increased the proportion of agricultural factors from 40 % to 60 %, while the proportion of financial indicators has been maintained 40 % so that the model can be adapted to the real needs of the small farmers.
The proposal is a pilot scheme developed by the Ministry of Finance ‘Task Force for Access to Finance’, which will be implemented under a united procedure in partnership with multi -banks and microfinance organizations to ensure more and more farmers’ access and uniformity.
Senator Mohammad Aurangzeb welcomed the recommendations and said that the move should be taken forward in time -bound and practical fruitful stages so that lasting effects can be achieved.
He also emphasized that a separate, technology assistant model for cattle and dairy sector should also be developed immediately, as most small farmers in rural areas have cattle but are unable to access financial facilities for the purchase, maintenance and milk marketing of livestock.
The Finance Minister emphasized the economic and nutritional importance of the dairy sector and directed the task force to include both crops and livestock under an integrated financial framework.
He said that the farmer’s experience is central to this whole process, and we have to create a digital model that prefers convenience, inclusion, and ease, and brings real improvement in Pakistan’s agricultural scenario.
