ISLAMABAD: The Special Advisor to the Prime Minister for Industries and Production, Mr. Haroon Akhtar Khan, addressed an important meeting at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), emphasizing the government's unwavering commitment to economic stability, industrial growth, and business facilitation.

The meeting was attended by key business leaders, industrialists, and members of the FPCCI, who gathered to discuss the current economic situation and future opportunities for growth. In his address, Mr. Akhtar highlighted Prime Minister Shehbaz Sharif's vision for a stable and progressive economy. He noted that, despite facing numerous financial challenges, Pakistan has made significant progress in various sectors. Under the leadership of Prime Minister Sharif, the country has demonstrated resilience in overcoming economic hurdles, while simultaneously addressing security concerns and ensuring the continuity of business operations. This resilience, according to Mr. Akhtar, is a testament to the government's determination to maintain economic stability and create an environment conducive to business growth. Mr. Akhtar reassured the business community of the government's full support in driving economic revival. He emphasized the critical role that businesses play in Pakistan's economic recovery and stated that the Prime Minister is committed to formulating business-friendly policies. These policies, he said, aim to ensure that industries receive the necessary facilitation to expand and contribute to the overall economic growth of the country. In a show of appreciation, Mr. Akhtar praised the government's efforts to revitalize the Small and Medium Enterprises Development Authority (SMEDA). He acknowledged the importance of small and medium enterprises (SMEs), describing them as the backbone of Pakistan's industrial sector.

The revitalization of SMEDA, he said, is essential for providing the support and infrastructure that SMEs need to grow and prosper. Touching on the macroeconomic reforms implemented by the government, Mr. Akhtar pointed out the significant reduction in the policy rate, which has decreased from 22% to 12%. This, he noted, has provided much-needed relief to businesses, making it easier for them to access credit and invest in growth. Furthermore, the Pakistan Stock Exchange (PSX) has reached an all-time high, reflecting growing investor confidence in the economy and the government's policies. These developments, he said, underscore the positive impact of the government's reforms and their potential to drive long-term economic stability. Acknowledging the economic difficulties faced by the country, Mr. Akhtar stated that the government has taken tough but necessary measures to ensure Pakistan's future economic stability. These measures include adjustments in electricity and gas prices, which, although challenging in the short term, are crucial for ensuring the long-term sustainability of the economy and industrial growth. On the topic of women's empowerment, SAPM Haroon Akhtar emphasized Prime Minister Sharif's commitment to creating equal opportunities for women in the workforce.

He pointed out that women's contribution to Pakistan's GDP is significant and acknowledged that the government is working to provide them with the tools and opportunities needed to play an even larger role in the economy. The government, he said, is implementing initiatives to enable women to work shoulder to shoulder with men, ensuring gender inclusivity in economic activities. Mr. Akhtar also addressed the challenges faced by industries struggling with financial difficulties. He reassured the business community that Prime Minister Shehbaz Sharif is preparing to announce relief measures for the industrial sector, particularly in the area of electricity tariffs. In addition, he revealed plans for the introduction of a new bankruptcy law, which would provide struggling industries with a structured framework for recovery and restructuring. Mr. Haroon Akhtar reiterated the government's commitment to ensuring economic stability, industrial growth, and a business-friendly environment. He encouraged greater collaboration between the public and private sectors to achieve long-term economic prosperity. The government, he emphasized, is dedicated to creating a conducive environment for businesses to thrive, ensuring that Pakistan's economy continues to grow and evolve in the face of both domestic and global challenges.