ISLAMABAD: Prime Minister Shehbaz Sharif on Monday assured representatives of the business and industrial community that the upcoming federal budget would include measures aimed at strengthening industrial growth and boosting production.
He said efforts were underway to make the 2026–27 budget more supportive of investment and business activity, as the government prepares to announce the federal financial plan on June 5.
The premier made these remarks during a meeting with presidents of chambers of commerce and industry, where he sought proposals and recommendations for the new budget. The government is expected to approve a consolidated national development programme exceeding Rs3.5 trillion, alongside a macroeconomic framework projecting 4.1% economic growth and 8.5% inflation for FY2026–27.
During the meeting, PM Shehbaz directed the Federal Board of Revenue (FBR) to clear all pending tax refund cases by June 15. He also ordered the relocation of Pakistan Revenue Automation Limited (PRAL) headquarters to Karachi to improve export facilitation and ease of doing business. In addition, he instructed the establishment of an Immigration and Passport Department office in Gujrat.
The prime minister encouraged local investors to promote electric vehicle production through joint ventures, saying Pakistan needed to expand into modern and emerging industries.
He noted that ongoing economic stabilization efforts had been achieved through consistent policy measures and hard work, and added that further steps would be introduced in the upcoming budget to support industrial expansion, increase production, and improve the overall business environment.
PM Shehbaz assured the delegation of the government’s commitment to creating a more investor-friendly climate and supporting long-term economic growth. Business leaders, in response, expressed support for the government’s economic policies and submitted suggestions for the upcoming budget.
Earlier, the prime minister described expanding engagement between Pakistani and Chinese private sectors as the beginning of a “new era” in bilateral economic relations.
He said deeper cooperation in industry, agriculture, and technology with China would help increase exports and generate employment opportunities in Pakistan.
Chairing a review meeting on agreements and memoranda of understanding (MoUs) signed at the Pakistan-China Business-to-Business (B2B) Conference during his recent visit to China, PM Shehbaz directed officials to ensure swift conversion of these MoUs into formal agreements and joint ventures. He also decided to personally chair monthly review meetings to track progress.
He further instructed authorities to strengthen cooperation between the China Academy of Agricultural Sciences and the Pakistan Agricultural Research Council (PARC), stressing that modern agricultural research and technology transfer could transform Pakistan’s farming sector.
Officials briefed the meeting that 123 Pakistani and 436 Chinese companies participated in the May 24 B2B conference, where 207 MoUs worth around $7.54 billion were signed across sectors including battery energy storage, artificial intelligence, mobile devices, fertilisers, irrigation systems, fisheries, food processing, biotechnology, and vaccines.
The meeting was attended by Federal Ministers Rana Tanveer Hussain, Ahsan Iqbal, Ahad Khan Cheema, and Shaza Fatima Khawaja, along with senior officials.
Separately, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) recently released a set of independent “shadow” policy documents proposing an alternative economic framework focused on accelerating growth, expanding the tax base, and reducing fiscal imbalances.
Prepared by the Economic Policy and Business Development Think Tank (EPBD), the documents outline reforms in taxation, public spending, and institutional structure, and propose a private-sector-led growth model aimed at improving long-term economic sustainability.
