By: Maleeha Irfan
ISLAMABAD: The Leaders in Islamabad Business Summit (LIIBS) 2024, which gathered 1000+ delegates including 15 global speakers during its 7th edition today in Islamabad. Hosted by the Nutshell Group and Unity Foods Limited, with significant collaboration from OICCI and support from Faysal Bank Limited and InfraZamin Pakistan, this year’s summit revolves around the central theme ‘Collaborating for Growth’.
The summit’s economic focus was highlighted by a key address from Senator Muhammad Aurangzeb, Federal Minister for Finance & Revenue. Fresh from negotiations with the International Monetary Fund (IMF) in Washington, the Minister shared crucial insights into Pakistan’s economic strategy focusing on immediate actionable growth sectors such as agriculture and IT exports. “The sectors are poised for significant development with a 33.6% increase in agricultural loans noted this fiscal year. Additionally, the FBR has achieved a remarkable 30.2% increase in tax collection, exceeding the target of PKR 6,707 billion,” explained the Finance Minister.
The Minister’s address underscored the proactive steps the government is taking towards alleviating inflation and providing economic relief to the less privileged segments of society. The emphasis on enhanced revenue collection through collaborative efforts between the Ministry of Finance, the FBR, and the Ministry of Law was also highlighted as a key strategy to bolster economic stability.
“Facing current economic challenges, our focus on agriculture and IT exports as growth drivers is strategic and imperative. It is essential that we develop and implement investable, bankable projects that will stimulate substantial economic benefits across these sectors,” stated Senator Aurangzeb. He reaffirmed the government’s commitment to economic reforms and strategic collaboration to uplift the nation’s economic landscape.
The summit continues to serve as a platform for discussing innovative solutions and strategies to foster economic growth and sustainable development through national and international collaboration.
