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Quick Changes in the Economy. Government Seeking To Establish Stability In The Economy: Ishaq Dar

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The administration is working to attain economic stability, making Pakistan’s economy one of the strongest in the world, according to Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar.

Ishaq Dar, speaking at a ceremony in Islamabad, expressed optimism that Pakistan would soon join the G20 club due to impending rapid economic development and stated that cautious economic measures are being implemented to turn the nation into a strong economic force.

Ishaq Dar said they want Pakistan to be as the country’s founding fathers intended and prayed for the nation’s advancement and prosperity.

He declared that further work on the Darbar Bari Imam second extension project would be promptly undertaken. Additionally, he took part in the Mazar’s “Chadar Poshi” Ceremony.

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SIFC Approves 50 MMCFD of Gas: Anticipated 35% Increase in LPG Imports

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The Special Investment Facilitation Council continues to play a vital role in enhancing Pakistan’s energy industry and fostering industrial operations. Measures are being implemented to authorize a daily gas supply of 50 million cubic feet.
To provide a dependable gas supply for National Steel Complex Ltd., alternatives such as local gas sources and imported LNG are under consideration. This project is anticipated to foster industrial growth, generate employment, and enhance the economy.
The Government emphasizes stable energy prices and a robust local economy. Maintaining a reliable energy supply is essential for fostering industrial growth.
Engro Vopak Terminal Ltd. has solicited the Port Qasim Authority to augment facilities for the uninterrupted supply of LPG and liquid chemicals. Augmenting the terminal’s capacity will optimize operations and elevate efficiency.
LPG imports are projected to increase by 35%, thereby enhancing industrial operations and fortifying the economy.

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FBR to Enhance Revenues: Enacts Significant Reforms, Attains Record Revenue Collection

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The Federal Board of Revenue has effectively executed significant reforms in the past year, enhancing tax administration, compliance, and digital transformation under the leadership of Prime Minister Shehbaz Sharif.
The FBR implemented AI-driven risk identification algorithms to improve tax audits and introduced a customer relationship management dashboard for real-time compliance monitoring.
Moreover, AI-driven Customs Intelligence and digital invoicing systems have transformed tax collection and customs operations.
The implementation of faceless customs assessment has markedly diminished clearance waits, optimizing international trade.
The unified sales tax return has streamlined the tax filing procedure, while the continuous advancement of a tier-3 data center seeks to enhance data security and AI-driven surveillance.
To enhance transparency, the FBR digitized its litigation management system for faster dispute resolution.

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National Skill Development: Government to Offer Training in Contemporary Skills to Youth: Ahsan

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Professor Ahsan Iqbal, Minister for Planning, Development, and Special Initiatives, has underscored that Pakistan’s economic future depends on private sector-led growth and comprehensive skill development.
During the Cothm Global convocation, he emphasized the necessity of equipping the workforce with contemporary skills to satisfy global economic requirements.
He stated that no nation has attained sustained growth without active participation from the private sector and a skilled workforce.
Ahsan Iqbal emphasized Pakistan’s unexploited potential in tourism and hospitality, while acknowledging that infrastructural deficiencies and workforce constraints impede advancement.
He emphasized the necessity of systematic reforms in Education and Industry to compete with regional economies such as Malaysia, Thailand, and India.
The Minister unveiled the Uraan Pakistan initiative, a strategic plan designed to elevate Pakistan to a three trillion dollar economy by 2047 through investments in critical industries, innovation, and youth skill development.

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