ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif has expressed the resolve to eradicate terrorism from the country to pave the way for foreign investment in Pakistan.
“Everyone should work in unison and don’t pull each other’s legs,” the premier said while addressing a special session of the federal cabinet meeting in Islamabad.
He added that his administration stabilised the economy during its one year in power with the help of allies. PM Shehbaz paid rich tribute to security personnel who sacrificed their lives in the fight against terrorism.
“It has been a year, let alone a contentious scandal, opposition even failed to bring up a fake scandal against the government. What could be a greater achievement of yours than this,” he said.
Highlighting the economic achievements of the coalition government he mentioned a significant drop in inflation and key policy rate.
The prime minister expressed gratitude to coalition partners for their support and acknowledged the Army Chief’s role in stabilising the economy.
He rejected past claims that the government had pleaded for loans, adding that for the first time, all state institutions were aligned and working towards national progress without personal interests.
The premier was of the view that the country was on the brink of bankruptcy when he assumed office one year ago.
He slammed the former ruling party for writing letters to the International Monetary Fund (IMF) and urging the global lender not to approve loans for the cash-strapped nation.
The Prime Minister stated that all macroeconomic indicators were performing well and urged the members to work with dedication and commitment, as these qualities are essential for achieving Pakistan’s goal of becoming one trillion-dollar economy by 2035.
PM Shehbaz also expressed concerns over the ongoing humanitarian crisis in Palestine, noting that over 50,000 Palestinians have been martyred and condemning the obstruction of humanitarian aid despite ceasefire calls.
Finance Minister presents economic outlook
Minister for Finance Muhammad Aurangzeb, presenting an overview of the economy, highlighted that the Pakistan Stock Exchange had seen a 71 per cent return, while the current account surplus reached its highest level in the last 20 years.
He informed that plans were underway to rightsise 43 ministries and their 400 attached departments and that pension reforms and agriculture tax had been introduced for the first time.
He noted the FBR revenue had risen by 26 per cent, and another significant achievement was the introduction of the faceless assessment system, which led to a 60 per cent increase in revenue in a short period.
