By Adnan Rafique
ISLAMABAD: The Pakistan Business Council (PBC) here on Tuesday endorsed the government’s rightsizing agenada, calling for a leaner, more efficient and focused public sector while offering to provide detailed recommendations on privatization, restructuring of state-owned enterprises (SOEs) and expanding private-sector participation.
During a meeting with Advisor to Finance Minister, Khurram Schehzad, Chairman PBC, Ziad Bashir, and Chief Executive Officer, Javed Kureishi emphasized that a streamlined public sector can improve economic efficiency and create greater space for private investment and market-led growth.
The meeting provided an opportunity to discuss key areas of economic reform, including the government’s ongoing privatization programme, restructuring of SOEs and measures to reduce the government’s footprint in commercial activities.
The participants discussed the proposed privatization of power distribution companies (DISCOs), banks, and airports, with emphasis on improving efficiency, attracting investment, and enhancing service delivery through greater private-sector participation.
They discussed opportunities for bringing major public-sector entities to the capital markets through Initial Public Offerings (IPOs), including State Life Insurance Corporation (SLIC).
It was noted that greater participation of private and institutional investors can support improved corporate governance, transparency, operational efficiency, and access to capital, while contributing to the government’s objective of encouraging market-led economic activity.
The meeting also covered tax rationalization and the development of a medium-term tax policy framework.
The PBC leadership also appreciated and supported the measures introduced in the Federal Budget FY27, particularly the policy shift from a narrow focus on increasing the tax burden towards broadening the tax base and economic activity.
The leadership welcomed the incentives provided to the private sector and businesses, particularly measures aimed at supporting exporters, enhancing competitiveness, reducing the cost of doing business, and encouraging investment and expansion.
On the occasion, Khurram Schehzad appreciated the PBC’s engagement and emphasized the importance of continued consultation with the business community in shaping economic policies and reforms.
He noted that constructive government-business dialogue is essential for building investor confidence, improving the business environment, and developing practical and sustainable reform measures.
Both sides reaffirmed the importance of continued engagement between the government and the business community to support the reform process, strengthen investor confidence, and develop policies that facilitate greater private-sector investment, competitiveness, and sustainable economic growth.
