Pakistan Business Council, Finance Ministry Discuss Privatization, Investment and Tax Reforms
- Finance Minister’s Advisor Khurram Schehzad held talks with Pakistan Business Council leadership on key economic and structural reforms.
- Discussions covered privatization of DISCOs, banks and airports, along with restructuring of state-owned enterprises.
- Both sides explored bringing major public-sector entities, including State Life Insurance Corporation, to capital markets through IPOs.
- PBC backed the government’s rightsizing agenda and called for a predictable, competitive tax regime to support investment and business growth.
Advisor to the Finance Minister Khurram Schehzad met senior leadership of the Pakistan Business Council (PBC) at the Finance Division on Tuesday to discuss investment, privatization, private-sector participation and the government’s wider economic reform programme.
The meeting was attended by PBC Chairman Ziad Bashir and Chief Executive Officer Javed Kureishi, with discussions focusing on measures aimed at improving the investment environment and expanding the role of the private sector in economic activity.
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A major part of the meeting focused on the government’s privatization programme and restructuring of State-Owned Enterprises (SOEs). The participants discussed reducing the government’s involvement in commercial activities and increasing private-sector participation to improve efficiency, attract investment and strengthen service delivery.
The proposed privatization of power distribution companies (DISCOs), banks and airports was also discussed as part of efforts to improve the performance of major commercial and public-service entities.
Both sides also considered opportunities to bring major public-sector organizations to Pakistan’s capital markets through Initial Public Offerings (IPOs), including State Life Insurance Corporation (SLIC). Greater involvement of private and institutional investors was discussed as a way to strengthen corporate governance, improve transparency and operational efficiency, and provide companies with better access to capital.
PBC leadership expressed support for the government’s rightsizing programme, emphasizing the need for a leaner, more efficient and focused public sector. The council agreed to provide detailed recommendations on privatization, SOE restructuring, rightsizing and other areas where increased private-sector participation could contribute to investment-led economic growth.
Tax reforms were another key area of discussion, particularly tax rationalization and the development of a medium-term tax policy framework. Participants stressed that Pakistan requires a predictable, transparent and competitive tax regime capable of encouraging investment, business expansion and sustained economic activity.
The business community is expected to provide its recommendations to the government as part of ongoing discussions on the medium-term tax policy framework.
PBC representatives also welcomed measures introduced in the Federal Budget FY27, particularly what they described as a shift away from relying primarily on increasing the tax burden towards expanding the tax base and overall economic activity.
They also supported incentives provided to businesses and the private sector, including measures intended to assist exporters, improve competitiveness, lower the cost of doing business and encourage new investment and business expansion.
Schehzad welcomed the PBC’s engagement with the government and stressed that continued consultation with the business community would remain important in developing economic policies and implementing structural reforms.
He said constructive dialogue between the government and businesses can help strengthen investor confidence, improve Pakistan’s business environment and ensure that reform measures are practical and sustainable.
Both sides agreed to maintain engagement as the government moves ahead with its reform agenda, with a shared focus on strengthening investor confidence, increasing private-sector investment, improving competitiveness and supporting sustainable economic growth.
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