Prime Minister Shehbaz Sharif met with Karachi’s business leaders to discuss boosting the economy through increased exports amid concerns about high energy costs and inconsistent policies. Despite appreciating the PM’s resolve, industry leaders described the business environment as challenging.
During the meeting, they acknowledged the government’s progress with the IMF, which brought some market stability. They suggested initiating trade talks with India and reconciling with Imran Khan for political stability.
PM Shehbaz, on his first visit to Karachi since his election, aimed to gather insights from business experts to craft an economic growth strategy. He emphasized shifting from short-term ventures to substantial industrial and agricultural development to double exports in five years.
Referencing Bangladesh’s success, PM Shehbaz used it as a motivational example of transformation from a perceived economic burden to a growth leader.
In a discussion session, business figures like Arif Habib urged more diplomatic efforts, including with India and Imran Khan, to stabilize the political landscape. The PM took note but focused on future economic dialogues.
Zubair Motiwala from the TDAP and Karachi’s Businessmen Group criticized current policies for stifling growth. He highlighted the unsustainable rise in energy costs affecting competitiveness and suggested fair pricing without subsidies to support industrial activity.
The meeting concluded with PM Shehbaz planning further consultations in Islamabad to address these economic challenges comprehensively.
