PM Shehbaz promises new budget measures to boost industry

Prime Minister Shehbaz Sharif said on Monday that the federal government will take new measures in the upcoming budget aimed at strengthening industrial growth and enhancing national production. The announcement came during a meeting in Islamabad with senior representatives from chambers of commerce and industry across Pakistan. During the discussion, business leaders shared their recommendations regarding the next federal budget and strategies for accelerating economic development. The PM said the government’s continuous efforts had contributed to economic stability and emphasized that work would continue to achieve stronger and more sustainable growth. To support businesses, he directed the Federal Board of Revenue (FBR) to clear all outstanding tax refund claims by June 15. He reiterated that expanding exports remains a central pillar of the government’s economic policy and expressed confidence that collaborative efforts would help achieve this objective. He also assured exporters that the Export Finance Scheme rate would remain fixed at 4.5 percent until June 2027, despite the recent rise in the policy interest rate. He appreciated the banking sector’s role in providing support to exporters. PM Shehbaz instructed Pakistan Revenue Automation Limited (PRAL) to shift its headquarters to Karachi. He also approved the establishment of a passport office in Gujrat in response to requests from overseas Pakistanis and local business stakeholders. Highlighting the importance of small and medium-sized enterprises (SMEs), he said reforms and incentives for the sector remain a key component of the government’s economic strategy. He also encouraged investors to enter joint ventures for the domestic manufacturing of electric vehicles. According to the Prime Minister’s Office, members of the delegation acknowledged the efforts of PM Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Chief of Defence Forces Field Marshal Syed