ISLAMABAD: Pakistan is implementing a comprehensive set of reforms to reduce the cost of doing business and revive industrial growth, according to Khurram Schehzad, Advisor to the Finance Minister.
In a post on X (formerly Twitter), Schehzad highlighted that the government has already achieved significant progress in lowering energy and financial costs, while taxation and regulatory reforms are also underway to create a more business-friendly environment.
He noted that energy tariffs for industrial and agricultural consumers have been reduced from Rs 38 to Rs 23 per unit on additional consumption for a period of three years, offering much-needed price stability and relief to producers.
At the same time, interest rates have been halved, improving access to affordable credit and stimulating investment across key sectors.
Schehzad added that efforts are ongoing to rationalize the tax structure, providing partial relief for salaried and corporate sectors, while expanding the tax net through enhanced compliance and enforcement in the undocumented economy.
The government is also introducing regulatory reforms to streamline approval processes, reducing timelines from years to weeks or even days, aimed at encouraging entrepreneurship and accelerating project execution.
“The direction is clear — lowering the cost of doing business to make way for growth, investment, and jobs,” Schehzad stated.
