Islamabad: Prime Minister Shehbaz Sharif announced that Pakistan has been set on a course of economic growth through the concerted efforts of his government. He shared this during a special ceremony in Islamabad, marking the ‘Day of Development and Progress’ on the first anniversary of the current administration’s tenure.
According to Radio Pakistan, the Prime Minister reflected on the progress made over the past year, describing a shift from a state of darkness to light. He attributed this transformation to the collective efforts of the government’s team. In June 2023, the International Monetary Fund program was in disarray, and inflation was severely affecting the population. However, with support from the Islamic Development Bank, Pakistan secured a Stand-By Arrangement from the IMF, which averted a potential default.
The Prime Minister highlighted the contribution of the salaried class, who paid taxes amounting to three hundred billion rupees, as a significant factor in the country’s financial recovery. He noted a decline in inflation due to the government’s continued efforts and urged the business community to propose measures to further strengthen the economy. He assured collaboration with businessmen to develop policies that would boost exports and support local industry.
Discussing anti-smuggling measures, Shehbaz Sharif noted that Pakistan had successfully exported sugar worth two hundred and eleven million dollars to Afghanistan, attributing this to the government’s strict anti-smuggling efforts. On the topic of law and order, he expressed concern over the resurgence of terrorism, which had been eradicated in 2018. He stressed the importance of addressing terrorism to realize Pakistan’s dream of becoming a prosperous and developed nation and paid tribute to the sacrifices made by the armed forces in combating terrorism.
The Prime Minister also emphasized the government’s focus on strengthening industries, boosting exports, particularly IT-led exports, and enhancing the agriculture sector. Minister of Information and Broadcasting Attaullah Tarar, who also addressed the ceremony, highlighted the political sacrifices made by the government to save the country and mentioned initiatives like education and laptop distribution to the youth as contributors to national progress.
Minister for Finance Muhammad Aurangzeb outlined the government’s strong performance, citing an increase in foreign exchange reserves and a reduction in the policy rate. He mentioned ongoing efforts to transform technology infrastructure within the Federal Board of Revenue and emphasized key initiatives, including the privatization agenda, rightsizing of the federal government, and pension reforms.