Finance Minister Muhammad Aurangzeb has expressed the commitment resolve pressing issues of the business community, including energy costs for industries to foster industrialization and export-led growth.

He was talking to a delegation of the Federation of Pakistan Chambers of Commerce and Industry-led by led by President FPCCI Atif Ikram in Islamabad today (Tuesday).

The Finance Minister reiterated that a steady and unified effort is required to drive Pakistan's economic recovery. He also briefed the delegation on the ongoing reforms in key sectors, including macroeconomic stability, taxation, energy and rightsizing of the federal government.

The key recommendations include the reorganization of specialized civil services with the establishment of dedicated groups in critical sectors such as Energy, Finance, Industry, and Health to lead policy formulation and ensure informed decision-making. The Charter also called for embracing solar and wind energy.

It also emphasized a greater focus on regional trade and development of financial institutions. A stable exchange rate was recommended to support exports and discourage imports that do not comply with the Pakistan Standards and Quality Control Authority. The Charter also stressed the importance of a uniform gas pricing structure for industries across the country to promote industrial growth.

Further recommendations included transferring ownership of State-Owned Enterprises to employees, allowing them to manage these enterprises or privatize them, and converting their pension funds into equity. The presentation proposed strategic reforms on various fronts, including debt management, trade partnerships, tax compliance, energy efficiency, and the exploitation of mineral resources. It also called for a progressive taxation model for agriculture, better governance structures, pension and welfare reforms, digitalization and improvements to the bankruptcy laws in Pakistan.

Muhammad Aurangzeb commended efforts of the delegation in preparing a comprehensive and timely Charter of Economy. He noted that such initiatives are crucial at this juncture, even when political parties agree on a common set of economic goals.

The members of the FPCCI delegation expressed their appreciation for the Finance Minister and his team's efforts in improving Pakistan's economic indicators.

They hoped that the government would continue addressing critical issues to support industrialization and economic growth in the country.