Prime Minister Shehbaz Sharif has directed that regulatory compliance be simplified and made more cost-effective to facilitate investors, emphasizing the need to strengthen coordination between the government and investors and accelerate digitization of the entire system for licensing and other services. Chairing a review meeting in Islamabad on measures to promote investment, he stated that promoting investment is the government’s top priority for achieving economic growth.
Facilitating Local and Foreign Investors
The prime minister directed relevant authorities to ensure all necessary facilities for both local and foreign investors to boost exports. He noted that the establishment of the Special Investment Facilitation Council has enhanced investor confidence in the country. The meeting was briefed that Special Economic Zones contributed 3.7 percent to national exports from July to March in the current fiscal year, with a target to increase their share to eight percent by fiscal year 2028.
Digitization and Business Action Plan
In consultation with provinces, a business-ready action plan is being prepared to promote investment. All services are being digitized to facilitate investors and businesspersons in obtaining government approvals, and a Pakistan Regulatory Registry is being established. Currently, 21 Special Economic Zones are operational, expected to increase to 26 by June this year. Under the Easy Business Act, red tape will be eliminated, and digital services will further facilitate investment.
Strengthening Ties with New Zealand
Prime Minister Shehbaz Sharif received a telephone call from New Zealand Prime Minister Christopher Luxon. The two leaders exchanged views on the evolving situation in the Middle East. Shehbaz briefed Luxon on Pakistan’s diplomatic outreach and efforts to promote peace and de-escalation. Luxon appreciated Pakistan’s constructive initiatives, including outreach to Washington and Tehran, and conveyed best wishes for mediation efforts. Shehbaz reaffirmed Pakistan’s commitment to peace and stability. Both leaders agreed to strengthen bilateral relations and lauded the role of the Pakistani diaspora in New Zealand. Shehbaz invited Luxon for an official visit to Pakistan, and they agreed to remain in close contact.
Meeting with EU Delegation
Prime Minister Shehbaz Sharif assured an EU delegation that the government would continue efforts to facilitate trade and investment relations with the European Union. The delegation, led by European Commission Director Peteris Ustubs, included representatives from Adidas, Andritz, IKEA, and the EU Investment Bank. They visited for the EU-Pakistan Business Forum. Shehbaz welcomed the delegation, noting the EU is Pakistan’s largest trading partner. He expressed hope that the forum would enhance trade and investment ties and assured the government’s resolve to stabilize the economy despite regional challenges. The delegation appreciated Pakistan’s cooperation in hosting the forum and noted potential for growth in energy, communications, IT, and other sectors. Over 600 B2B meetings were expected on the sidelines. Senior officials including Deputy Prime Minister Ishaq Dar, Commerce Minister Jam Kamal Khan, and others attended the meeting.
