Minister For Finance And Revenue, Senator Muhammad Aurangzeb Expresses Commitment For Creating Conducive Environment For business

Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Friday emphasized the government’s commitment to creating a conducive business environment to attain sustainable economic growth and development in the country

ISLAMABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2024) Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Friday emphasized the government’s commitment to creating a conducive business environment to attain sustainable economic growth and development in the country.

Addressing a two-day consultative conference on insolvency and debt enforcement related laws, the minister agreed to the idea of forming working group.

The event was organised by Securities and Exchange Commission of Pakistan (SECP), said a press release.

Finance Minister stressed the need for private sector to work with SECP to steer progress with Ministry of Finance acting as a host.

The conference drew participation from international delegates, esteemed Justices of all High Courts, renowned lawyers, regulators and policy makers.

In his opening remarks, the Chairman SECP highlighted the critical importance of effective insolvency and debt enforcement frameworks for fostering economic stability and growth.

He also urged the minister to form working groups for both insolvency and debt enforcement related regulations in Pakistan.

Honourable judges from Lahore High Court, Sindh High Court, Islamabad High Court, Peshawar High Court and Balochistan High Court graced the occasion and offered invaluable insights into the legal dimensions of insolvency and debt enforcement.

Their collective expertise played a crucial role in shaping the discussions, fostering a deeper understanding of the challenges and opportunities in enhancing the country’s legal and regulatory frameworks.

Mr. Sergio Ariel Muro, Finance Sector Specialist (Insolvency) at the World Bank, shared international best practices and emphasized the importance of insolvency in promoting economic resilience.

The conference also featured expert panel discussions on key issues such as strengthening institutional frameworks for debt enforcement, bridging gaps in insolvency legislation, and enhancing coordination among stakeholders for effective dispute resolution.

The discussions provided a platform for local and international experts to share perspectives on policy reform and innovative solutions tailored to Pakistan’s context.