ISLAMABAD: Prime Minister Shehbaz Sharif said that the upcoming budget would include measures aimed at providing relief to the public, while efforts were being made to bring the informal economy into the tax net.
According to a statement by the Prime Minister’s Office, the prime minister held a consultative meeting with leading industrialists and business figures on Wednesday to seek input on priorities for the upcoming federal budget 2026–27, with a focus on shaping economic policy and sustaining recovery efforts.
“The discussion centred on the overall direction of economic growth, export-led development, and measures aimed at strengthening investment and job creation ahead of the upcoming budget,” it said.
The prime minister said consultations with the business community were “of critical importance” in policy formulation, adding that Pakistan’s economic recovery depended on a strong partnership between the government and the private sector.
The delegation included prominent industrialists and business leaders such as Mian Muhammad Mansha, Arif Habib, Ahsan Zafar Syed, Muhammad Ali Tabba, and others representing key sectors of the economy.
Several federal ministers and senior officials also attended the meeting, including Food Security Minister Rana Tanveer Hussain, Law Minister Azam Nazeer Tarar, Climate Change Minister Musadik Malik, Economic Affairs Minister Ahad Khan Cheema, Information Minister Attaullah Tarar, IT and Telecommunication Minister Shaza Fatima Khawaja, Petroleum Minister Ali Pervaiz Malik, Power Minister Sardar Awais Ahmad Khan Leghari, Minister of State for Finance Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar Khan, Attorney General Mansoor Usman Awan, and State Bank of Pakistan Governor Jameel Ahmad, along with other senior officials.
Addressing the delegation, the prime minister said, “You are ambassadors of Pakistan and our identity in the world,” and played a key role in shaping the country’s international economic reputation.
He thanked the business community for supporting the government during difficult economic conditions and said sustained cooperation between the public and private sectors was essential for growth.
“We are moving towards an export-led growth model, which remains the core of our economic policy,” the prime minister said.
The prime minister added that reforms were underway to improve the resolution of tax disputes through tax tribunals, with what he described as transparent hiring processes, while a committee had been formed to establish special commercial courts.
PM Shehbaz said that the government were moving forward on an export-led growth path; this was the central focus of the country’s economic policy, and efforts were being made to bring the informal economy into the tax net.
He said the upcoming budget would include measures aimed at providing relief to the public while supporting business-friendly policies to attract investment and stabilise the economy.
Read: US proposes tariffs on goods from 60 economies, including Pakistan
The prime minister also highlighted the government’s focus on expanding industrial, agricultural, and information technology sectors, saying these areas would generate employment and strengthen long-term economic stability.
He added that technical and vocational training programmes had been launched to improve youth employability and support national development.
Officials briefed participants on ongoing reforms, including improvements to tax tribunals to expedite the resolution of tax disputes, the establishment of special commercial courts, and infrastructure projects aimed at improving freight connectivity from Karachi ports to the rest of the country.
These include upgrades to the M-10 motorway and work on the Pipri freight corridor, as well as the development of the M-13 (Kharian–Rawalpindi) motorway to reduce travel time between Lahore and Islamabad.
The briefing also highlighted rail infrastructure upgrades under Pakistan Railways’ ML-1 and ML-2 projects, designed to improve freight movement and logistics efficiency.
The briefing also highlighted the development of a national AI transformation plan and the use of video analytics in industrial sectors such as sugar and cement to improve revenue collection.
Business leaders welcomed the government’s economic direction, praising efforts to stabilise the economy, improve financial management, and promote digitisation. They also expressed support for tax reforms, energy cost reductions for industry, and timely tax refunds.
The delegation commended diplomatic efforts for regional peace and thanked the prime minister for involving the business community in budget consultations.
They reiterated their commitment to working with the government to strengthen industry, boost exports, and create employment opportunities.
PM urges focus on freight expansion and rail project completion
PM Shehbaz also chaired a high-level meeting on railway development projects and commended Pakistan Railways for improving passenger facilities and upgrading railway stations across the country.
He said that the railway department must prioritise freight expansion and the timely completion of major infrastructure projects.
The meeting was attended by Railways Minister Muhammad Hanif Abbasi, Economic Affairs Minister Ahad Khan Cheema, Finance Minister Aurangzeb, Planning Minister Ahsan Iqbal, Special Assistant to the Prime Minister for Industry and Production Haroon Akhtar Khan, the Railways Secretary, and other relevant officials.
PM Shehbaz noted that an efficient, international-standard freight service would ease the transportation of industrial goods and significantly increase Pakistan Railways’ annual revenue.
He directed that financial and institutional approvals for ongoing mega projects must be ensured in advance to avoid unnecessary delays and disruptions in execution.
The prime minister stressed the need for coordinated efforts between federal and provincial governments for the early completion of key projects, including ML-1, ML-3, and the Thar coal rail project.
He said the timely and quality completion of mega projects would reduce construction costs and save valuable public resources. PM Shehbaz added that adequate budgetary allocation for railway mega projects would be ensured in the upcoming federal budget.
He further emphasised that adherence to international standards, transparency, and improved administrative efficiency in all ongoing projects remained a top government priority.
Officials briefed the meeting on the progress of ongoing projects and reforms in Pakistan Railways. They said freight service reforms were expected to generate historic revenue of up to Rs40 billion by June this year.
The briefing said these reforms had significantly improved efficiency and revenue potential in the freight sector.
