Prime Minister Shehbaz Sharif has taken a bold stance to tackle the country’s economic challenges head-on, calling for urgent action. His plan revolves around two main strategies: reforming policies and making the most of Pakistan’s natural and agricultural riches.
In a bid to boost the economy, the Prime Minister has laid out a detailed roadmap. Key measures include increasing the Tax to GDP ratio, cracking down on smuggling and electricity theft, and ensuring state-owned companies operate efficiently or potentially privatizing them.
One of the cornerstones of this plan is the Special Investment Facilitation Council (SIFC), led by the PM himself. The council’s goal is to simplify investment procedures and create a favorable environment for businesses to thrive.
Additionally, the Petroleum Division has been tasked with stepping up gas exploration and production, following strict guidelines outlined in the tight gas policy. This policy aims not only to bolster domestic energy reserves but also to attract investment in offshore oil and gas reserves, thereby boosting economic activity and employment opportunities.
The endorsement of the Tight Gas Policy by the Special Investment Facilitation Council highlights the government’s dedication to offering appealing incentives for exploration and production firms, fostering an environment conducive to sustainable economic growth.
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