The Federal government is committed to fostering the business environment for growth, innovation and prosperity.This was stated by Coordinator to the Prime Minister on Commerce, Rana Ihsaan Afzal, while addressing the National Regulatory Reforms Conference in Islamabad on Wednesday.He said the government has achieved economic stabilization and now moving ahead towards growth.

He suggested that we have to transform our import-led economy to export-led economy.Rana Ihsaan Afzal said all the ministries are playing their due role effectively under homegrown "Uraan Pakistan" programme to come out from the boom and bust cycle of the economy and move towards sustainable growth. He said efforts are also afoot rapidly to break this cycle under the dynamic leadership of Prime Minister Muhammad Shehbaz Sharif.

He said several tariff reforms have been initiated under the National Tariff Policy 2025-2030.  The Coordinator to the Prime Minister on Commerce said these reforms are aimed at rationalizing the tariff, simplifying the concessionary regime and promote export-led growth. He said the government's goal is to create a business environment which encourages investment, stimulate productivity and enhance competitiveness.

Rana Ihsaan Afzal said the key objective of this policy are also to improve competitiveness of manufacturing including the export sector to duty-free access to imported raw material by rationalizing the tariff structure.The Coordinator to the Prime Minister on Commerce said it will also increase the employment opportunities by tracking efficiency in seeking investment in the manufacturing sector.

Credit: Independent News Pakistan (INP)