PBF urges finance minister to deliver actionable economic roadmap for 2025

KARACHI: The Pakistan Business Forum (PBF) has urged Finance Minister Muhammad Aurangzeb to unveil a clear and actionable economic roadmap for 2025, stressing the need for strategic reforms to address persistent challenges and foster a business-friendly environment.

In a letter to the finance minister, PBF President Khawaja Mehboobur Rehman expressed concerns over the current economic policies, which he argued fail to inspire investor confidence or address key issues.

“With 2024 coming to an end, we remain troubled by unresolved challenges. Despite the successful launch of another IMF programme, the Pakistani rupee continues to fluctuate between 277 and 279 against the US dollar, showing no signs of substantial recovery,” Rehman wrote. He stressed that a stable and stronger rupee is vital for alleviating financial burdens on citizens and the business community.

The letter also highlighted the impact of rising electricity and gas costs in 2024, which have strained households and businesses alike. It called for urgent measures to tackle these escalating utility bills as a top priority for the coming year.

On the agricultural front, the PBF noted that farmers are struggling to recover production costs, jeopardising wheat production for 2025. Wheat has been sown on only 12 million acres in Punjab, falling significantly short of the 16.5 million-acre target. The PBF urged the need for a fair and sustainable cost-of-production mechanism to safeguard agricultural output and food security.

The forum further outlined critical concerns, including inflation, political instability, rising fuel costs, excessive taxation, and ineffective trade policies. It advocated for a ‘charter of the economy’ built on broad political consensus to implement structural reforms.

Drawing comparisons to India’s economic trajectory, the PBF pointed out that consistent policies and political stability have allowed India to attract nearly $500 billion in foreign direct investment (FDI) over the past nine years -- more than it received since independence. The forum emphasized that Pakistan must pursue similar sustained reforms to achieve economic growth. The letter proposed that the ‘charter of the economy’ focus on public spending, taxation and monetary stability, urging all political parties to collaborate on long-term strategies for the nation’s economic recovery. Concluding its message, the PBF called on the finance minister’s office to address key issues, including currency instability, rising energy costs, and inefficiencies impacting businesses. It stressed the importance of fostering private-sector growth, improving the standard of living, and creating a pathway to sustainable economic recovery.

99pc wheat cultivation target achieved

in Punjab, says Agri Minister Kirmani

Contrary to the PBF’s assertions, Punjab Minister for Agriculture Syed Ashiq Hussain Kirmani said on Monday that wheat cultivation target has been achieved by 99 per cent in the province, attributing the success to farmer-friendly initiatives of Chief Minister Maryam Nawaz Sharif. In a statement, the agriculture minister said that the Punjab government had set a target of cultivating wheat on 16.5 million acres in the province.

According to the statistics, wheat cultivation has been completed on 16.25 million acres, achieving nearly 99 per cent of the target, Kirmani added.

The minister lauded Chief Minister Maryam Nawaz Sharif for her exemplary leadership, highlighting key initiatives like the Kisan Card, Green Tractor Programme, and other farmer-focused efforts that have played a pivotal role in motivating farmers to embrace the ‘Grow More Wheat’ campaign. Ashiq Hussain Kirmani said that the CM provided Kisan Cards facility to farmers owning 1 to 12.5 acres of land.

Additionally, 1,000 laser land levellers will be distributed via transparent balloting among farmers who brought 12.5- to 25-acre area under wheat cultivation.

Similarly, 1,000 tractors will be distributed free of cost through transparent balloting among farmers with over 25 acres of wheat-cultivated land.

During the cultivation season, adequate availability of DAP and urea fertilizers was ensured at lower prices compared to previous years.

On the orders of the chief minister, the price of Punjab Seed Corporation’s wheat seed bags was reduced from Rs6,300 to Rs4,500 per bag.He said that agricultural activities in the province continue with the motto ‘Prosperous Farmers, Prosperous Punjab’.