ISLAMABAD: Prime Minister Shehbaz Sharif on Monday assured extensive efforts of the incumbent government to ensure ease of doing business and trade facilitation to businessmen for economic growth.

Speaking at the inauguration of Movenpick Hotel in the federal capital, the prime minister expressed optimism about the country`s economic revival and reiterated the government`s commitment to fostering progress across various sectors.

`It is a proud moment for Pakistan that a stateof-the-art international hotel has been launched. I commend the Centaurus Groupfortheirnation-building efforts and thank the Movenpick management for bringing world-class hospitality to our country,` he added.

He highlighted the government`s efforts to stabilise the economy, asserting that inflation has gone down below 5 per cent, and the banking policy rate was under 13 per cent.

The prime minister said that further reductions in banking policy rate are expected following SBP`s meeting.He emphasised the growth in exports, particularly in the IT sector, and outlined the government`s vision for economic development in agriculture, industry, IT, mining, and minerals.

Talking about challenges faced by the industrial and agricultural sectors due to high power tariffs, PM Shehbaz assured participants that the government was working tirelessly to reduce energy costs in coming months.

`A competitive industrialsectoris essentialfor economic growth, and we are committed to easing the cost of doing business in the country,` he said.

PM Shehbaz reaffirmed the government`s stance on downsizing public entities to reduce government expenditures.

Announcing privatisa-tion of PIA, he invited Pakistani investors to participate in a transparent bidding process.

`Just as banks were suecessfully privatised during the 1990s under former Prime Minister Nawaz Sharif and are now thriving, PIA too will be transformed into a worldclass airline, just as it was in the 1960s,` he said.

He said that Pakistan is on track to conclude its final IMF programme.

The prime minister highlighted ongoing efforts to remove obstacles to foreign investment, noting that initiatives to improve the ease of doing business will soon be launched.

He lauded the Centaurus Group for its contribution to nation-building and expressed the hope for more such investments in future.