Latest news with #PakistanBusinessCouncil
Arab News
3 days ago
- Business
- Arab News
Pakistan to set up maritime chamber to boost blue economy, promote greener ports
KARACHI: The Pakistan government on Saturday announced the creation of a new Maritime Chamber of Commerce and Industry (MCCI) to promote sustainable development in the country's coastal and marine sectors, saying the initiative would help strengthen the country's blue economy while addressing rising climate risks at its ports. Addressing the Pakistan Business Council Forum, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry said Pakistan's coastal zones were increasingly exposed to environmental challenges such as rising sea levels, extreme weather events and marine degradation. The new chamber, he noted, would serve as a specialized platform for uniting stakeholders from across the maritime spectrum to pursue greener policies and long-term economic resilience. 'This chamber will not only support investment and innovation in the maritime sector but also prioritize sustainability at ports, promote green technologies and foster carbon reduction strategies,' he told the participants of the forum. Pakistan is striving to strengthen blue economy by ensuring the sustainable use of ocean resources for economic growth, jobs and ecosystem health. This requires the authorities to enhance the potential of its ports, fisheries, logistics and marine services while reducing environmental harm. The new chamber is expected to provide a unified institutional voice for sectors ranging from shipping to coastal tourism, helping to align business incentives with climate adaptation goals. Pakistan has been pushing to modernize its port infrastructure and expand its role in regional trade by improving cargo handling, digitalizing port operations and encouraging public-private partnerships. The country has also invited landlocked Central Asian states to use its ports to access global markets, aiming to position itself as a regional trade hub. The Pakistan Business Council welcomed the announcement, calling the new chamber a critical step toward building a climate-resilient and economically vibrant maritime economy.
Express Tribune
16-05-2025
- Business
- Express Tribune
Centre-province ties urged for business ease
Listen to article A significant high-level meeting was held on Thursday at the Board of Investment (BOI) Karachi, chaired by Federal Minister for Investment Qaiser Ahmed Sheikh. The purpose of the meeting was to review the ongoing reforms under the Pakistan Regulatory Modernisation Initiative (PRMI) aimed at improving the business environment in Pakistan. The meeting began with welcome remarks from the additional secretary of BOI, who appreciated the participation of key stakeholders. Attendees included the CEO of the Pakistan Business Council, special secretary for industry from Punjab, secretary of the Sindh Investment and Trade Department and representatives from the Sindh Investment Board. Representatives from Punjab and Sindh provided detailed briefings on the ongoing efforts to promote regulatory reforms and ease of doing business in their respective provinces. The secretary for investment from Sindh highlighted the "One-Stop Service" initiative launched in the province, which is proving to be a milestone in providing swift and integrated facilities to the business community. The meeting focused on improving coordination between the federal and provincial governments, enhancing the effectiveness of digital platforms, supporting small and medium enterprises and developing skills. Participants emphasised that a strong and sustainable business environment can only be established through harmonised laws and partnerships. Federal Minister Qaiser Ahmed Sheikh appreciated the efforts of all relevant institutions and stated that the government is committed to keeping the reform process integrated and making decisions through continuous consultation with all stakeholders. He added that such meetings play a vital role in restoring the confidence of the business community and promoting investment.
Business Recorder
14-05-2025
- Business
- Business Recorder
Export-led growth is only way forward for Pakistan: Aurangzeb
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Tuesday said export-led growth is not just a priority it is the only viable path forward for Pakistan's economic stability and sustainability. Every sector of the economy will have to contribute, he said. Senator Aurangzeb met with a group of leading exporters and businessmen led by Shabbir Diwan, former chairman of the Pakistan Business Council (PBC), as part of the government's ongoing consultative process with stakeholders from the business and industrial community. He stressed that increased productivity and outward-looking policies are essential if Pakistan wants to break free from the recurring boom-and-bust cycles and avoid returning for what would be a 25th IMF programme. He reiterated that the existing protectionist regime must be dismantled to enable market-based competitiveness. 'The era of unnecessary protection must come to an end. The prime minister is personally chairing meetings to drive this shift,' he added. The minister highlighted that resolving structural bottlenecks such as high financing costs, elevated energy tariffs, and an overly complex tax regime is essential for helping the local industry become competitive and lead the country to a productivity and export-led growth. He said the government was aiming to prepare the upcoming federal budget as a strategic document one that aligns fiscal priorities with the broader objective of sustainable, export-driven growth. The discussion covered the government's Tariff Rationalisation Programme, aimed at removing anomalies and inconsistencies that hinder business operations. Diwan welcomed the government's efforts and shared private sector perspectives on improving policy consistency and predictability. Aurangzeb assured that all stakeholder inputs will be considered in shaping the next phase of reforms. He emphasised the importance of public-private collaboration to lay down a resilient, productive, and globally integrated economic framework. Copyright Business Recorder, 2025
Business Recorder
14-05-2025
- Business
- Business Recorder
Export-led growth is only way forward: Aurangzeb
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Tuesday said export-led growth is not just a priority it is the only viable path forward for Pakistan's economic stability and sustainability. Every sector of the economy will have to contribute, he said. Senator Aurangzeb met with a group of leading exporters and businessmen led by Shabbir Diwan, former chairman of the Pakistan Business Council (PBC), as part of the government's ongoing consultative process with stakeholders from the business and industrial community. He stressed that increased productivity and outward-looking policies are essential if Pakistan wants to break free from the recurring boom-and-bust cycles and avoid returning for what would be a 25th IMF programme. He reiterated that the existing protectionist regime must be dismantled to enable market-based competitiveness. 'The era of unnecessary protection must come to an end. The prime minister is personally chairing meetings to drive this shift,' he added. The minister highlighted that resolving structural bottlenecks such as high financing costs, elevated energy tariffs, and an overly complex tax regime is essential for helping the local industry become competitive and lead the country to a productivity and export-led growth. He said the government was aiming to prepare the upcoming federal budget as a strategic document one that aligns fiscal priorities with the broader objective of sustainable, export-driven growth. The discussion covered the government's Tariff Rationalisation Programme, aimed at removing anomalies and inconsistencies that hinder business operations. Diwan welcomed the government's efforts and shared private sector perspectives on improving policy consistency and predictability. Aurangzeb assured that all stakeholder inputs will be considered in shaping the next phase of reforms. He emphasised the importance of public-private collaboration to lay down a resilient, productive, and globally integrated economic framework. Copyright Business Recorder, 2025
Business Recorder
13-05-2025
- Business
- Business Recorder
Aurangzeb says upcoming budget to be strategic, focused on long-term growth
Finance Minister Muhammad Aurangzeb on Tuesday said the government was aiming to prepare the upcoming federal budget for fiscal year 2025-26 'as a strategic document—one that aligns fiscal priorities with the broader objective of sustainable, export-driven growth'. The finance minister made these remarks during a meeting with a group of leading exporters and businessmen led by Shabbir Diwan, former Chairman of the Pakistan Business Council (PBC), read a statement released by the Finance Division. The meeting was part of the government's ongoing consultative process with stakeholders from the business and industrial community, read the statement. The federal government will present the next fiscal year's budget on June 2. Speaking during the meeting, Aurangzeb underscored that export-led growth is not just a priority—it is the only viable path forward for Pakistan's economic stability and sustainability. 'Every sector of the economy will have to contribute,' he said, stressing that increased productivity and outward-looking policies are essential if Pakistan wants to break free from the recurring boom-and-bust cycles and avoid returning for what would be a 25th International Monetary Fund (IMF) programme. Arif Habib expects super tax cut in upcoming budget He reiterated that the existing protectionist regime must be dismantled to enable market-based competitiveness. 'The era of unnecessary protection must come to an end. The prime minister is personally chairing meetings to drive this shift,' he said. The minister further highlighted that resolving structural bottlenecks—such as high financing costs, elevated energy tariffs, and an overly complex tax regime—is essential for helping the local industry become competitive and lead the country to productivity and export-led growth. The discussion covered the government's Tariff Rationalisation Program, aimed at removing anomalies and inconsistencies that hinder business operations. Diwan welcomed the government's efforts and shared private sector perspectives on improving policy consistency and predictability. Conflict with India won't have large fiscal impact, says Aurangzeb Aurangzeb assured that all stakeholder inputs will be considered in shaping the next phase of reforms. He emphasised the importance of public-private collaboration to lay down a resilient, productive, and globally integrated economic framework.
