Prime Minister Shehbaz Sharif has declared 2026 the year of economic development and business promotion, reaffirming the government's commitment to creating a more transparent, investor-friendly and business-oriented economy.
Chairing separate meetings in Islamabad, the prime minister reviewed progress on economic reforms and tax system improvements while also meeting United Nations Under-Secretary-General for Humanitarian Affairs Tom Fletcher to discuss regional peace, humanitarian cooperation and climate resilience.
Chairing a high-level meeting on economic reforms, Prime Minister Shehbaz Sharif said Pakistan's economy is moving on the path of stability and emphasized that the current year would be dedicated to accelerating economic growth and expanding business activities.
He described the business community as the backbone of Pakistan's economy and directed all relevant institutions to provide every possible facility to businesses in order to boost production, investment and exports.
FBR directed to strengthen ties with businesses
The prime minister instructed the Federal Board of Revenue (FBR) to work closely with the business community and resolve legitimate concerns on a priority basis.
He specifically directed senior FBR officers to visit Karachi during the first week of every month and maintain direct contact with traders and industrialists to ensure their issues are addressed without unnecessary delays.
According to the prime minister, companies that fully comply with tax laws should be encouraged, and their contributions should be formally acknowledged.
Govt aims for simpler, transparent tax system
Shehbaz said the government's objective is to make doing business easier while promoting investment, exports and sustainable economic growth.
He stressed that reforms should focus on making the tax system more transparent, efficient and simple, helping restore the confidence of the business community and encouraging greater compliance.
Officials briefing the meeting informed the prime minister that production monitoring systems have already been installed in the sugar, cement, tobacco, tiles and fertilizer industries.
The installation of similar monitoring systems in the textile and beverage sectors is currently underway.
According to the briefing, the monitoring system has significantly increased tax collection over the past year.
Authorities said the initiative generated Rs42 billion in additional taxes from the sugar industry, Rs38 billion from the cement sector and Rs15 billion from the beverage industry.
UN humanitarian chief meets PM Sharif
In a separate meeting, Prime Minister Shehbaz Sharif received United Nations Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Adviser Tauqir Shah and the Chairman of the National Disaster Management Authority (NDMA) also attended the meeting.
The prime minister praised the work of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) in responding to humanitarian crises around the world.
Shehbaz thanked Tom Fletcher for OCHA's assistance during Pakistan's devastating 2022 floods, saying the organization's support played a valuable role in humanitarian relief efforts.
He also appreciated OCHA's continued cooperation in strengthening Pakistan's disaster management capacity, noting that both national and provincial institutions have significantly improved their ability to respond to natural disasters.
The prime minister emphasized the need to accelerate preparations to address the growing risks posed by climate change and reaffirmed Pakistan's commitment to maintaining close cooperation with the United Nations and OCHA.
Peace essential for overcoming humanitarian crises
During the meeting, Prime Minister Shehbaz Sharif said sustainable peace remains the foundation for addressing humanitarian and economic crises caused by conflicts.
Tom Fletcher, in turn, paid tribute to the prime minister's efforts to promote peace and stability in the region. He also acknowledged Pakistan's continued cooperation in facilitating humanitarian assistance for Afghanistan.
Gaza humanitarian situation
Tom Fletcher briefed the prime minister on the worsening humanitarian situation in Gaza and highlighted the challenges humanitarian organizations continue to face in delivering relief assistance.
The discussions focused on strengthening international cooperation to respond effectively to ongoing humanitarian emergencies while supporting regional stability and disaster preparedness.
