While lauding Finance Minister Muhammad Aurangzeb Khan’s commitment to economic reforms, a prominent Pakistani business leader has issued a stark call to action, declaring that macroeconomic stability is insufficient and that the government must now implement swift policies to foster genuine growth for enterprises.
Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum, in a statement today commended the finance minister’s recently shared economic roadmap but emphasized that the business community is now awaiting concrete policy actions to translate stability into tangible progress.
“The Finance Minister’s assertion that the private sector is the engine of the economy, with the government”s role being to provide a supportive ecosystem, is a message we have long championed,” stated Mr. Hussain. He added that the minister”s optimism about achieving a respectable GDP growth rate sends a crucial signal of confidence to investors.
The business leader welcomed the minister’s renewed pledge to pursue structural reforms, particularly in taxation, the energy sector, and the privatization of State-Owned Enterprises (SOEs). He stressed that broadening the tax base and resolving the persistent circular debt are essential for creating a level playing field and reducing operational costs for businesses.
Support was also conveyed for the administration”s push toward economic liberalization to boost exports, a strategy the minister believes could trigger an “East Asia moment” for Pakistan. According to Mr. Hussain, the business community sees a departure from protectionist policies as the only sustainable path to realizing the nation”s industrial potential.
The focus on monetizing China-Pakistan Economic Corridor (CPEC) infrastructure through Special Economic Zones and attracting investment in key sectors like minerals, mining, agriculture, and IT is viewed as a significant opportunity for private sector expansion.
However, Mr. Hussain cautioned that stability should not be the final goal. “It”s time for growth, not just stabilization,” he affirmed, urging the government to implement prompt policies that reduce red tape, cut energy tariffs, and simplify the tax regime.
Concluding his statement, Mian Zahid Hussain reaffirmed the business community”s support for the government’s reform agenda and expressed anticipation for a sustained, consultative process to ensure that policies reflect ground realities and steer the national economy toward long-term prosperity.