ISLAMABAD: Prime Minister of Pakistan Muhammad Shehbaz Sharif on Saturday said that the country’s economy direly needed reforms, which in turn, could be undertaken in a stable political circumstance as the economic development was intrinsically linked to political stability.
Taking to Twitter, the PM stressed, “It is here that the Charter of Economy appears to be the only way forward for our political parties to achieve prosperity for our people.”
The making of Budget (FY2023-24) was particularly a difficult task in view of the persistent challenges arising out of the floods-related relief & rehabilitation, global supply chain disruptions & geostrategic upheavals. Never-ending headwinds of political instability created by…
— Shehbaz Sharif (@CMShehbaz) June 10, 2023
The PM, in a lengthy tweet, referred to the laying of the fiscal budget 2023-24 and said that it represented the starting of the process to fix the economy’s long-term ailments.
He said the alliance government had prioritized the right areas that have the potential to spur economic growth, attract investment and make the economy self-sufficient.
The PM said the making of the budget was particularly a very difficult task in view of the persistent challenges arising out of the floods-related relief and rehabilitation, world supply chain disruptions and geostrategic upheavals.
He regretted “Never-ending headwinds of political instability created by Imran damaged the economy and created uncertainty, as Pakistan remained on the boil for well over a year.”
Mindful of the impact of inflation, the PM said the government provided relief to the public sector workers and pensioners in the form of pay increases of up to 35 per cent and 17.5 per cent respectively and raised the minimum wage to Rs32000.
He said a more balanced budget that levied no new tax couldn’t have been possible within the existing constraints.
The PM also commended all those who remained part of this exercise and played their role in the budget-making exercise. —APP
