In Islamabad, Prime Minister Shehbaz Sharif instructed to promptly advance discussions with the International Monetary Fund (IMF) concerning the Extended Fund Facility (EFF).
During his inaugural meeting as PM on Monday, Shehbaz Sharif directed immediate action on improving the economy. He received a comprehensive briefing from the finance secretary on the nation’s economic status.
Emphasizing the mandate received from the public, the PM underscored the urgency of enhancing the economy as a top priority for the new government. He expressed the commitment to facilitate investments and support the business community.
Updates revealed that the Federal Board of Revenue (FBR) has cleared tax refunds amounting to Rs65 billion. Sharif urged swift progress in discussions with the IMF regarding the Extended Fund Facility (EFF).
Recognizing the importance of taxpayers contributing to domestic exports and economic value, Sharif pledged appreciation for such endeavors. He stressed the need for automation to enhance transparency within the FBR and other organizations, urging immediate action in this regard.
Sharif highlighted plans to privatize state-owned entities to alleviate the burden on the national treasury. He also called for the formation of a committee to strategize the reduction of government board members’ privileges.
Additionally, Sharif advocated for transitioning the power and gas sectors to smart metering to mitigate line losses. He urged banks and financial institutions to develop strategies for promoting small and medium enterprises, aiming to create employment opportunities for the youth.
Furthermore, Sharif emphasized the need to streamline the government’s size, proposing the merger or closure of redundant institutions. He emphasized the importance of the Special Investment Facilitation Council (SIFC) in enhancing economic stability and announced plans for further strengthening it.
Finally, Sharif assured the implementation of emergency measures to facilitate citizens, businesses, investors, and the youth. He concluded by announcing plans for the next meeting, which will focus on discussions regarding the FBR.
