Maps
Magazine

TRADE & ECONOMY

PM Shehbaz Chairs High-Level Reform Moot to Drive Foreign Investment and Long-Term Export Growth
PM Shehbaz Sharif chaired a high-stakes sectoral reform meeting in Islamabad alongside top cabinet members and the DG SIFC to finalize strategies for boosting foreign investment and exports. Highlighting green transit, the PM termed a comprehensive Electric Vehicle (EV) policy "the need of the hour," creating a sharp policy contrast as finance officials simultaneously negotiate rolling back EV tax exemptions under IMF pressure.
ND
by News Desk
2026-06-02
PM Shehbaz Chairs High-Level Reform Moot to Drive Foreign Investment and Long-Term Export Growth

Detailed Report

  • The High-Level Economic Review: Prime Minister Shehbaz Sharif chaired a crucial high-level review meeting in Islamabad on Tuesday, focusing on aggressive sectoral reforms and structural policy measures. The strategic session aimed to devise mechanisms for attracting foreign direct investment (FDI), accelerating domestic industrial production, and expanding the country’s export footprint. The premier asserted that boosting industrial trade and creating an investor-friendly ecosystem are absolutely indispensable for achieving sustainable, long-term economic stability and public welfare.

  • The Green Energy and EV Focus: A major focal point of the Prime Minister's address was the immediate transition toward alternative energy and modernized transportation architecture. Highlighting the dual crises of expensive fuel imports and environmental degradation, PM Shehbaz stated that a comprehensive, forward-looking electric vehicle (EV) policy is "the need of the hour" to provide affordable mass transit and improve energy efficiency. He directed federal ministries to consult international tech experts to integrate modern, alternative-energy solutions into the local manufacturing framework.

The Budget Coordination Challenge: The Prime Minister's directives for an expansive EV policy come at a complex legislative juncture. Just 24 hours prior, fiscal sources revealed that the upcoming FY2026-27 federal budget—drafted under strict IMF revenue mandates—is actively considering phasing out key sales tax exemptions on EV import kits (CKD) and locally assembled electric vehicles. Observers note that the cabinet faces a tight balancing act between the PM's long-term green industrial vision and the IMF’s immediate revenue-collection demands.

Key Meeting Attendees & State Apparatus

The structural review brought together the core economic, energy, and security leadership of the country:

Official Attendee Portfolios / Institutional Role Focused Responsibility in Reforms
Ishaq Dar Deputy Prime Minister & Foreign Minister International economic diplomacy and bilateral investment lanes.
Muhammad Aurangzeb Federal Minister for Finance Aligning sectoral relaxations with IMF bailout frameworks.
Sardar Owais Leghari Federal Minister for Power Division Alternative energy infrastructure and grid transition strategies.
Maj. Gen. Asad Ur Rehman Cheema Director General, Special Investment Facilitation Council (SIFC) Fast-tracking defense-vetted corporate investment channels.

  • Inter-Ministerial Cooperation and Transparency: Addressing persistent bureaucratic silos, the Prime Minister ordered all ministries to maintain seamless cooperation and close coordination to implement the new development policies without administrative delays. He emphasized that transparency, rigorous performance evaluation, and the swift clearance of corporate tax refunds remain the government's top priorities to win back the confidence of global markets and domestic industrial tycoons.
Tagged:

#ShehbazSharif #PakistanEconomy #EVPolicy #ForeignInvestment #SIFC #EconomicReforms #GreenEnergy #BreakingNewsPakistan
Share News: