ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday instructed the government to include suggestions from the industrial and business sectors in the upcoming budget preparation while chairing a meeting to review the country’s exports, his office announced.
The move signals the government’s intent to adopt a more inclusive approach in shaping fiscal policy for the next financial year, as it faces pressure to revive economic growth, attract investment and address concerns from the private sector.
The incumbent government will be presenting its second federal budget in June after assuming power last year.
“Consultation with industries and business organizations should be included in the preparation of the upcoming budget and their suggestions should be incorporated into it,” the PM Office quoted Sharif as saying following the meeting on the Export Facilitation Scheme, a policy initiative by the Federal Board of Revenue simplifying the import of raw materials, machinery and input goods for exporters, with minimal duties and taxes.
“Increasing revenue from exports is a top priority of the government,” he added.
He highlighted the importance of consulting sector experts on the committee’s recommendations to improve the scheme, particularly regarding the import of raw materials and machinery for export industries.
Sharif directed authorities to present a level playing field for local industries, adding that the scheme was launched to reduce production costs and enhance Pakistan’s competitiveness in domestic exports.
The meeting was attended by federal ministers, an adviser to the PM, Pakistan’s tax authority chief and businessmen from the export industry.
Pakistan PM directs inclusion of business sector input in budget preparation
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Pakistan PM directs inclusion of business sector input in budget preparation
- Shehbaz Sharif chaired a review meeting of the Export Facilitation Scheme to determine how to improve its effectiveness
- The incumbent government will be presenting its second federal budget in June after assuming political power last year
Pakistan and Egypt vow to expand cooperation, voice support for Palestinian cause
- The development follows an OIC meeting to discuss Israel’s move to recognize Somaliland, a breakaway region of Somalia, as a separate nation
- Muslim countries, including Pakistan, believe the move could be part of Tel Aviv’s plan to forcibly relocate Palestinian Muslims to Somaliland
ISLAMABAD: Pakistan and Egypt on Sunday resolved to boost bilateral cooperation and voiced their support for the Palestinian cause, the Pakistani foreign ministry said.
The statement came after a meeting between Pakistani Foreign Minister Ishaq Dar and his Egyptian counterpart Dr. Badr Abdelatty on the sidelines of an extraordinary session of the Organization of Islamic Cooperation (OIC) in Jeddah.
“The two sides reviewed Pakistan–Egypt bilateral relations, reaffirmed commitment to expanding cooperation across multiple domains, and exchanged views on Gaza and regional developments, underscoring support for international law, the just cause of the Palestinian people,” the Pakistani foreign ministry said.
The 22nd OIC Council of Foreign Ministers meeting was held in Jeddah to discuss Israel’s move last month to recognize Somaliland, a breakaway region of Somalia, as a separate nation. The act has drawn sharp criticism from Muslim nations worldwide.
Muslim countries, including Pakistan, believe the move could be part of Tel Aviv’s plan to forcibly relocate Palestinian Muslims to Somaliland. Several international news outlets last year reported that Israel had contacted Somaliland over the potential resettlement of Palestinians forcibly removed from Gaza.
“We believe that such recognition of an integral part of a sovereign state is not a diplomatic act, but an act of political aggression that sets a perilous precedent, threatening peace and security in the Horn of Africa, the Red Sea region, and beyond,” Dar told participants of the OIC meeting in Jeddah.
The Pakistani foreign minister said Islamabad considers the move a flagrant violation of international law and a direct assault on the territorial integrity of Somalia. He called on all states to refrain from engaging with Somaliland authorities.
Dar also met with OIC Secretary-General Hissein Brahim Taha and highlighted Pakistan’s unwavering support for the sovereignty, unity, and territorial integrity of Somalia.
“Categorically rejecting any proposal for dislocation of Palestinians, he reaffirmed Pakistan’s principled position on Palestine,” the Pakistani foreign ministry said.
“SG commended Pakistan’s consistent and constructive role at OIC in advocating for the causes central to the Muslim Ummah.”
Pakistan does not recognize Israel and has consistently called for an independent Palestinian state based on “internationally agreed parameters” and pre-1967 borders.
