Federal Minister for Petroleum, Dr Musadik Malik, on Saturday said that the government was committed to boosting exports, diversifying its economy, and creating more employment opportunities to enhance overall productivity.
Talking to a private news channel, he said the government’s focus on improving the ease of doing business by shifting from bureaucratic hurdles to a more welcoming, business-friendly approach.
He said that increasing the tax-to-GDP ratio would be pivotal in reducing poverty and driving economic progress.
However, he acknowledged that security concerns remain the biggest challenge in attracting investments.
“We must resolve, as a nation and in coordination with our political leadership and security agencies, that we will never allow anti-state elements to hinder our country’s progress,” he stressed.
Dr. Malik pointed out the crucial role of the Special Investment Facilitation Council (SIFC) in driving economic revival.
The SIFC has accelerated cooperation between various institutions, fostering investment opportunities and economic activity.
He further spoke on Pakistan’s longstanding historical and cultural ties with Saudi Arabia, expressing the country’s desire to transform this relationship into a partnership focused on mutual growth and development.
Saudi Arabia has been a consistent ally, and both nations continue to share strong economic and strategic bonds, he added.
The minister highlighted key areas for deeper cooperation, including food security, energy security, and infrastructure development.
“Both countries are ready to join hands to tackle the challenges and opportunities of the ongoing global industrial revolution,” he remarked.—APP
