ISLAMABAD: The government is intensifying coordination with the private sector to support economic recovery and policy reform, Commerce Minister Jam Kamal Khan said on Thursday, highlighting a public-private approach as the economy shows signs of stabilization.
Pakistan is seeking to attract foreign investment and boost exports as macroeconomic indicators improve following tighter fiscal discipline under an International Monetary Fund program, while engaging business groups to support growth, investment and the implementation of reforms.
“Prime Minister Shehbaz Sharif and his entire team remain in constant contact with the private sector,” Khan said, according to a statement circulated by the commerce ministry. “All joint working groups formed by the government are being headed by representatives from the private sector, reflecting a collaborative approach to economic policy.”
The minister was speaking to the media after a meeting with the American Business Council (ABC) in Karachi, where he said Pakistan’s economy had substantially improved in recent years following difficult policy adjustments under the IMF loan.
He cited a sharp decline in inflation, lower interest rates and higher foreign exchange reserves as signs of recovery, adding that the economy was in a stronger position than two to three years ago.
ABC President Akram Wali Muhammad described the meeting as productive and said business leaders were increasingly confident about Pakistan’s economic direction, noting that fears of a default had receded.
