Finance Minister and PBC discuss investment, digital transformation and business-led growth

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with newly elected Pakistan Business Council (PBC) Chairman Ziad Bashir and PBC Chief Executive Officer Javed Kureishi to discuss investment, business competitiveness, regulatory reforms and measures to strengthen private-sector participation in Pakistan’s economic development.

Congratulating Ziad Bashir on his new assignment, the Finance Minister emphasized the need for greater focus on investment and private-sector-led growth. He said businesses must continue adapting to technological and digital transformation by improving efficiency and adopting technology-driven business models to remain competitive in changing markets.

The meeting also discussed the need for more focused and actionable engagement between the government and business community. Senator Muhammad Aurangzeb encouraged the PBC to undertake concise, sector-specific research and provide practical recommendations to help identify opportunities, address challenges and support informed policymaking.

The Finance Minister stressed the importance of learning from international experiences and aligning Pakistan’s policies and business environment with evolving global practices. He called for continued collaboration between the government and private sector to identify opportunities and address areas requiring improvement.

He also highlighted the need to streamline the regulatory framework and address key issues affecting businesses and investment, stressing that reforms should focus on practical measures to facilitate business activity, enhance competitiveness and encourage investment.

Senator Muhammad Aurangzeb discussed opportunities to mobilize international financing and investment through institutions including the U.S. International Development Finance Corporation (DFC) and the U.S. Export-Import Bank (EXIM). He emphasized the importance of presenting specific, commercially viable and investment-ready projects to potential investors and financing institutions.

The meeting also reviewed Pakistan’s tax policy and ongoing work on a medium-term tax policy framework. The Finance Minister welcomed structured input from the business community and emphasized broad-based consultation to develop a tax system that supports investment, competitiveness and sustainable economic growth.

He underscored the importance of continued engagement with the private sector and called for a balanced approach under which the government addresses policy and regulatory constraints, while businesses contribute through investment, innovation, productivity improvements and expansion into new markets.

Ziad Bashir and Javed Kureishi appreciated the government’s continued engagement with the business community and welcomed the direction of economic and fiscal reforms. They described the current Federal Budget as among the most promising in recent years and reaffirmed PBC’s willingness to provide sector-specific input and work with the government on initiatives aimed at strengthening Pakistan’s investment climate, competitiveness and private-sector-led growth.